State Street Announces Global Custody Mandate with Bladex

State Street Corporation (NYSE:STT) today announced that it has been appointed to provide custody services for Bladex, a Panama-based multinational bank established by the central banks of 23 Latin-American and Caribbean countries to promote foreign trade and economic integration in the region.

“We are pleased to announce this mandate with Bladex, as we continue to expand our custody capabilities across the region, furthering our goal of supporting leading institutional clients in Latin America,” said Marcia Rothschild, State Street head of Latin America. "We look forward to partnering together to help Bladex generate and sustain growth to meet their investment objectives.”

As one of the leading custodians, global custody is at the core of State Street’s capabilities. The firm offers a comprehensive suite of custody services, such as safekeeping and settlements, corporate actions, proxy services network management, cash management and real-time reporting.

“We are confident that establishing this relationship with State Street will provide us with a robust and efficient platform to expand our scale and meet our future growth objectives,” said Eduardo Vivone, executive vice president, Treasury and Capital Markets, Bladex.

Today’s announcement further complements work that has been underway in Latin America over the past several years. In 2022, State Street announced the opening of a new office in Chile to help the firm serve and support institutional clients in the region, and also launched an integrated fund trading solution along with a custody offering for clients in Mexico. Additionally, in 2021, the firm announced that its Brazilian bank, Banco Comercial (formerly known as Natixis Brasil S.A. - Banco Múltiplom),, began offering full foreign exchange (FX) trading capabilities and sales operations.

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 $37.6 trillion in assets under custody and/or administration and $3.6 trillion* in assets under management as of March 31, 2023. State Street operates globally in more than 100 geographic markets and employs approximately 43,000 worldwide. For more information, visit State Street's website at www.statestreet.com.

*Assets under management as of March 31, 2023 includes approximately $59 billion of assets with respect to SPDR® products for which State Street Global Advisors Funds Distributors, LLC (SSGA FD) acts solely as the marketing agent. SSGA FD and State Street Global Advisors are affiliated

View source version on businesswire.com: https://www.businesswire.com/news/home/20230510005598/en/

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There is an upward development for State Street Corp. compared to yesterday, with an increase of €0.80 (1.170%).
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As a result the target price of 81 € shows a slightly positive potential of 17.22% compared to the current price of 69.1 € for State Street Corp..

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