Press release from Business Wire
State Street Appointed to Service $700 Million in Assets for Afore SURA in Mexico
Monday, June 03, 2013
State Street Appointed to Service $700 Million in Assets for Afore SURA in Mexico10:00 EDT Monday, June 03, 2013
BOSTON (Business Wire) -- State Street Corporation (NYSE:STT), announced today that it has been appointed by Afore SURA, one of the largest pension funds in Mexico, to provide custody and fund administration services for international segregated accounts. Afore SURA is a subsidiary of the Colombian holding firm, Grupo SURA.
“After an intensive review of several custody and administration service providers, we selected State Street because of its global reach and strength in implementation of mandates,” said Enrique Solorzano, chief investment officer of SURA Mexico. “We're very excited to enter into this partnership with State Street.”
“We are very pleased to be selected by Afore SURA,” said Alan Greene, executive vice president of Americas investment services and institutional services at State Street. “There are several global and regional long-term trends that are strengthening the opportunities for institutional investors and service providers in the Latin American region specifically Mexico, including declining inflation and an increased depth of local financial markets. State Street's integrated multi-currency custody/administration platform is well positioned to support this growth. We look forward to developing a long-term partnership with Afore SURA.”
State Street provides a range of servicing solutions such as custody, fund accounting, performance and analytics, and client reporting to a broad array of institutional investors globally.
About State Street Corporation
State Street Corporation (NYSE: STT) is one of the world's leading providers of financial services to institutional investors including investment servicing, investment management and investment research and trading. With $25.4 trillion in assets under custody and administration and $2.2 trillion in assets under management at March 31, 2013, State Street operates in more than 100 geographic markets worldwide, including the U.S., Canada, Europe, the Middle East and Asia. For more information, visit State Street's web site at www.statestreet.com
This AUM includes the assets of the SPDR Gold Trust (approx. $62.7 billion as of March 31, 2013), for which State Street Global Markets, LLC, an affiliate of State Street Global Advisors, serves as the marketing agent.
State Street Corporation
Jan Symosek, +617-664-1898