Home / Business and Economy / State Street Buys LatAm Custody Business
State Street Buys LatAm Custody Business
28 Jul
Summary
- State Street acquires custody assets from two major banks.
- The deal covers operations in Brazil, Mexico, and Colombia.
- The acquired business holds approximately $470 billion in assets.
State Street Corporation has announced a significant expansion into Latin America by acquiring the custody and asset-servicing business of Credit Agricole SA and Banco Santander SA. This strategic move targets operations in Brazil, Mexico, and Colombia, key markets within the region.
The acquired business, known as Santander CACEIS Latam Securities Services, holds approximately $470 billion in assets under custody. This transaction is poised to enhance State Street's service offerings and market position in these growing economies.
The deal underscores State Street's commitment to strengthening its global footprint and providing comprehensive financial services. Further details on the integration timeline and specific operational impacts are expected.
