State Street Corporation has secured a significant partnership, as it announced today its selection to provide fund accounting, fund administration, and investor servicing for AZ Quest, a prominent asset manager headquartered in Sao Paulo, Brazil.
Under the agreement, State Street will extend its comprehensive suite of services to the AZ Quest Fund SPC and its segregated portfolios, further solidifying its foothold in the Latin American market.
This collaboration marks another milestone in State Street’s strategic expansion efforts in the region. Building on its recent successes, including the establishment of new offices in Colombia in 2023 and Chile in 2022, State Street aims to enhance its support for institutional clients across Latin America. Notably, the firm’s Brazilian subsidiary, Banco Comercial (formerly Natixis Brasil S.A. – Banco Múltiplom), bolstered its offerings in 2021 by launching full foreign exchange (FX) trading capabilities and sales operations.
State Street Partnership with AZ Quest: Expansion in Latin America
Hebert Almeida, Partner and Head of Operations at AZ Quest expressed enthusiasm about the partnership, stating, “We are excited to tap into State Street’s expansive set of capabilities to help scale our existing offerings and continue to deliver excellence and innovation for our clients.”
The collaboration between State Street and AZ Quest underscores the growing significance of Brazil’s asset management industry and highlights State Street’s commitment to delivering top-tier services tailored to the region’s evolving needs.
State Street Corporation’s selection to provide fund accounting, administration, and investor servicing for AZ Quest underscores its commitment to driving innovation and excellence in the Latin American asset management landscape. This partnership not only strengthens State Street’s presence in the region but also reflects its dedication to supporting clients like AZ Quest in achieving their growth objectives.
With a focus on delivering comprehensive solutions and leveraging its extensive capabilities, State Street continues to position itself as a trusted partner for institutions seeking to navigate the complexities of the global financial markets.
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