State Street to Expand Latin America Footprint with Santander CACEIS Latam Securities Services

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Key Terms

assets under custody financial

Assets under custody are financial assets, such as stocks, bonds, or cash, held and managed by a financial institution on behalf of clients. They represent the total value of assets that the institution safeguards, ensuring their safety and proper management. For investors, knowing the amount of assets under custody provides an indication of the institution’s size, reliability, and ability to securely handle their investments.

assets under administration financial

Assets under administration (AUA) is the total market value of clients’ investments and accounts that a financial firm oversees for recordkeeping, reporting, and transaction processing without necessarily deciding how the money is invested. Think of it like a warehouse that stores and tracks other people’s goods: bigger AUA shows a firm’s scale, steady fee potential and client trust, so changes can signal growing business or client withdrawals that matter to investors.

middle- and back-office services financial

Services that handle the operational work behind financial transactions: middle-office functions include risk management, trade validation, pricing and regulatory compliance, while back-office functions cover settlement, recordkeeping, accounting and reconciliations. These are the “support crew” that ensure trades are accurate, legal and completed on time. For investors, their quality affects a firm’s operational risk, costs and ability to scale, which can influence reliability and financial performance.

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07/28/2026 - 07:00 AM

Transaction will establish a leading asset-servicing platform across Brazil, Mexico and Colombia, expanding custody, fund administration, and banking services for institutional investors

BOSTON--(BUSINESS WIRE)-- State Street Corporation (NYSE: STT) today announced that it has signed an initial agreement to acquire the Santander CACEIS Latam Securities Services joint venture in Brazil, Mexico, and Colombia. The joint venture is owned by the Santander Group and CACEIS, with assets under custody (AUC) of approximately $470 billion and assets under administration (AUA) of approximately $225 billion.¹

The transaction will augment State Street’s Latin American presence and establish State Street as a leading provider of custody, foreign exchange, and other middle- and back-office services in the region’s three most important institutional investment markets: Brazil, Mexico, and Colombia. Combining State Street’s global platform with established local market presence, regulatory expertise, end-to-end servicing capabilities, and talent across Latin America will significantly expand the firm’s global asset servicing network and strengthen its ability to support institutional investors across some of the world’s fastest growing investment markets.

"Our success in serving the world's largest and most sophisticated global investors is predicated on our deep local presence and expertise throughout the world. Effectively serving global and regional clients in Brazil, Mexico and Colombia requires this same deep local expertise and presence formula," said Ron O'Hanley, chairman and chief executive officer of State Street. "This transaction will allow us to better serve our global clients with cross-border and local investment needs in Latin America and strengthen our ability to support investors as they access growth opportunities and manage global investment portfolios, to deliver better outcomes for investors."

Upon closing, State Street plans to retain the business's experienced local teams and continue operating the entities through their existing market licenses and regulatory frameworks.

"Our clients are looking for an essential partner that can deliver consistently across markets,” said Joerg Ambrosius, president of Investment Services at State Street. “By combining State Street’s global platform, which services clients in more than 100 markets, with established local capabilities in Latin America, we are creating a more powerful and connected service model. This expanded model will help clients navigate complexity, manage risk and pursue growth in the region with confidence."

State Street intends to enter into definitive acquisition documentation following completion of consultation processes with relevant employee representatives. The transaction is subject to regulatory approvals and other customary closing conditions and, accordingly, is not expected to close until sometime in 2027.

Goldman Sachs & Co. LLC is acting as State Street’s financial advisor for the transaction and Freshfields is acting as legal advisor.

Forward-Looking Statements

This News Release contains forward-looking statements within the meaning of United States securities laws, including statements about our goals and expectations regarding our strategy, growth and sales prospects, capital management, business, financial and capital condition, results of operations, the financial and market outlook and the business environment. Forward looking statements are often, but not always, identified by such forward-looking terminology as “will,” “plan,” “intend,” “expect,” “opportunity,” “medium-term,” “outlook,” “target,” “strategy,” “strategic,” “driver,” “priority,” “assumption,” “illustrative,” “framework,” “forecast,” “guidance,” “objective,” “believe,” “anticipate,” “seek," “may,” “trend,” “goal,” “estimate,” “aim,” “outcome,” “future,” “pipeline,” and “trajectory,” or similar statements or variations of such terms. These statements are not guarantees of future performance, are inherently uncertain, are based on current assumptions that are difficult to predict and involve a number of risks and uncertainties. Therefore, actual outcomes and results may differ materially from what is expressed in those statements.

Important factors that may affect future results and outcomes include, but are not limited to: the possibility that some or all of the anticipated business, financial, capital, staffing, operational or other benefits or synergies of the acquisition will not be realized when expected or at all, including as a result of the impact of, additional costs or unanticipated negative synergies associated with, or problems arising from, the integration of Santander CACEIS Latam Securities Services (including challenges in transitioning clients, systems, technology or personnel), as a result of regulatory or operational challenges we may experience, as a result of disruptions from the transaction harming relationships with our clients, employees or regulators, or as a result of the strength of the economy and competitive factors in the areas where we and Santander CACEIS Latam Securities Services do business; the failure to obtain necessary regulatory approvals (and the risk that such approvals may result in the imposition of conditions that could adversely affect us or the expected benefits of the transaction, perhaps materially), to satisfy any of the other conditions to the acquisition or to successfully complete consultation activities with relevant employee representatives, in each case, on a timely basis or at all; and, if delayed, the resulting effects, including in magnitude and timing of the expected financial benefits of the acquisition of Santander CACEIS Latam Securities Services, of a delayed closing of the acquisition; the occurrence of any event, change or other circumstances that could give rise to the termination of the definitive purchase agreement in respect of the acquisition; and potential adverse reactions or changes to client, regulatory, business or employee relationships, including those resulting from the announcement or completion of the acquisition.

Other important factors that could cause actual results to differ materially from those indicated by any forward-looking statements are set forth in our 2025 Annual Report on Form 10-K and our subsequent SEC filings. We encourage investors to read these filings, particularly the sections on risk factors, for additional information with respect to any forward-looking statements and prior to making any investment decision. The forward-looking statements contained in this News Release should not be relied on as representing our expectations or beliefs as of any time subsequent to the time this News Release is first issued, and we do not undertake efforts to revise those forward-looking statements to reflect events after that time.

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 $57.9 trillion in assets under custody and/or administration and $6.3 trillion* in assets under management as of June 30, 2026, State Street operates globally in more than 100 geographic markets and employs approximately 51,000 worldwide. For more information, visit State Street's website at www.statestreet.com.

*Assets under management as of June 30, 2026 includes approximately $157 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 Investment Management are affiliated.

¹ As of June 30, 2026

Information Classification: General