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State Street to acquire Santander CACEIS Latam Securities Services
28 July 2026 LatAm
Image: eileen10/stock.adobe.com
State Street has 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 US$470 billion and assets under administration (AUA) of approximately US$225 billion.
The bank says that the transaction will augment State Street’s Latin American presence and establish State Street as a provider of custody, foreign exchange, and other middle and back office services in the region’s most important institutional investment markets.
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.
Ron O'Hanley, chairman and CEO of State Street, says: “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.
“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.”
Joerg Ambrosius, president of Investment Services at State Street, adds: “Our clients are looking for an essential partner that can deliver consistently across markets.
“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 some time in 2027.
The joint venture is owned by the Santander Group and CACEIS, with assets under custody (AUC) of approximately US$470 billion and assets under administration (AUA) of approximately US$225 billion.
The bank says that the transaction will augment State Street’s Latin American presence and establish State Street as a provider of custody, foreign exchange, and other middle and back office services in the region’s most important institutional investment markets.
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.
Ron O'Hanley, chairman and CEO of State Street, says: “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.
“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.”
Joerg Ambrosius, president of Investment Services at State Street, adds: “Our clients are looking for an essential partner that can deliver consistently across markets.
“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 some time in 2027.
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