State Street, a US bank providing financial services for institutional clients, will deploy an expansion plan in Mexico that includes a greater commitment to the Retirement Fund Administrators (Afores) segment.
The strategy entails a much more aggressive commercial activity to bring the technological and market experience they have globally, with the aim of adding more clients to the portfolio, said María Ximena Vásquez Barbosa, country manager for Mexico and head of sales for Latin America. and the Caribbean of State Street.
“We are betting more on the Afores segment, we know that there will be significant growth in the asset management of these clients, not only in traditional assets but also in alternative assets,” he said in an interview this week. State Street Corporation is one of the largest global asset managers with $43 trillion in assets under custody, about 10 percent of all global assets under management.
The firm supports different pension funds to make investments outside their country.
“Several Mexican Afores use State Street as custodians for their assets abroad; they are professional investors who are looking to diversify their assets. “To that extent we would be the provider that they could use to have access to those global markets,” the company explained. directive. State Street’s financial services cover the entire value chain in asset management; in addition to Afores, it also has insurance companies, asset management, among others.
#bank #bets #promoting #Afores #Mexico