Itaú USA Asset Management (IUAM), the US investment management arm of Itaú Unibanco, Brazil's largest non-government bank, has selected SS&C GlobeOp as its fund administrator.
SS&C will provide fund administration, including full middle- and back-office services, investor services, advanced performance analytics, regulatory compliance assistance and risk-related services for Bank Itaú's Cayman-domiciled funds.
The deal has enabled Itaú to consolidate its technology stack in a single platform to simplify and streamline operations.
Itaú said it picked SS&C for its extensive expertise, its ability to provide global coverage, and deliverables, such as daily net asset values (NAVs).
Charles Ferraz, CEO of IUAM, commented: "SS&C is a trusted and proven provider of fund administration and middle-office services. We have been looking to streamline the number of vendors we were using to optimise operations and help us scale. SS&C's ability to provide all of the services we needed on one platform ensures we can run our business more efficiently."
Bill Stone, CEO, SS&C Technologies, added: "We are pleased to support Itaú USA Asset Management on its growth path. Itaú's confidence recognizes the depth and breadth of SS&C's offering. We are committed to working closely with our clients to create optimal embedded solutions."
