State Street Corp partners with AZ Quest to enhance services in Latin America and global trading.

Amidst the rapid development and Foreign exchange trading masterinternational expansion of the global financial services industry, State Street Corporation (NYSE: STT), also known as State Street Bank, announced its partnership with AZ Quest, an asset management company based in São Paulo, Brazil. This partnership aims to expand State Street’s business scope in Latin America while enhancing its market influence in the region. State Street plans to provide AZ Quest with a comprehensive range of financial services, including fund accounting and management.

Marcia Rothschild, head of State Street in Latin America, noted that this partnership will deepen the company's business footprint in the Latin American region and offer more comprehensive services to key institutional clients within the area, thus promoting the achievement and growth of their investment objectives. This strategic move complements State Street's recent acquisition of CF Global Trading, a London-based company specializing in outsourced trading services across different asset categories.

This acquisition, completed after protracted negotiations and with undisclosed financial terms, demonstrates State Street’s commitment to enhancing its global trading solution capabilities. By integrating the operations of CF Global Trading with State Street’s outsourced trading services in the Americas and Asia-Pacific regions, the company aims to offer a comprehensive front-to-end trading solution through its Alpha platform, thereby consolidating its position as a global financial services provider.

In the ETF market, State Street has also taken significant steps to improve its competitiveness: through its State Street Global Advisors division, the company recently announced a significant fee reduction for its SPDR ETF product line, aiming to increase the market appeal of these products and reflecting a continuous focus on client value.

Scott Chais, CEO of CF Global Trading, expressed his excitement about joining the State Street team and emphasized the growth and expansion potential for CF Global Trading’s outsourced trading platform and State Street's client base brought about by the merger. This indicates that through a series of strategic actions, State Street has not only strengthened its competitive position in the international financial market but also provided its clients with a broader and more specialized range of services.

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