State Street Corp (NYSE:STT) today announced that its Brazilian bank has commenced offering full foreign exchange (FX) trading capabilities and sales operations. State Street previously acquired control of Natixis Brasil S.A. – Banco Múltiplo, a São Paulo-based Brazilian financial institution in 2019.
This milestone serves as an important marker for the firm’s broader expansion plans for the Latin American region, as this an opportunity to better serve both its local and global clients – as well as prospects – by bringing its market leading capabilities and unparalleled scale to LatAm.
State Street now has 13 FX sales and trading desk locations globally, and combined with its global custodial network, provides clients with the highest levels of onshore access. Through local trading desks, State Street clients have an unparalleled level of insight into the conditions and developments impacting local markets, as well as additional access to liquidity.
Tony Bisegna, global head of multi asset class trading and research for State Street Global Markets, comments:
“Brazil – like many other Latin American countries – is an increasingly important market for institutional investors globally. State Street continues to be very well positioned to help our global clients navigate the challenges of investing in emerging markets, through our market leading foreign exchange products, as well as our award-winning research platform which combines State Street’s proprietary flow information, real-time economic indicators derived from big data, and partnerships with academics to deliver investment strategy insights to our clients.”
State Street also announced it has appointed Marcia Rothschild as head of Latin America with responsibility for leading sales and deepening relationships with clients and prospects. She joins from Vistra where she served as business development director for Vistra’s Alternatives division. Prior to working at Vistra, Rothschild held leadership positions at SS&C, Citigroup, and BNP Paribas.