State Street Enters Colombian Market to Support Continued Growth in Latin America

By: State Street Corporation via Business Wire

July 10, 2023 at 09:30 AM EDT

Andres Zambrano Burgl joins State Street to lead new Colombia office; Builds on the firm’s ongoing expansion in Latin America

State Street Corporation (NYSE: STT) announced today its expansion into Colombia, scaling its servicing capabilities for institutional clients in Latin America. Andres Zambrano Burgl will manage the Colombia office and lead sales in the country. Zambrano is based in Bogota and will report to Maria Ximena Vasquez, State Street’s head of Sales for Latin America and The Caribbean (ex Brazil).

State Street’s new office in Colombia continues the firm’s expansion of its Latin America coverage, building upon its first-in-class client capabilities in the region. In 2021, State Street announced that its Brazilian bank began offering foreign exchange capabilities and sales operations. State Street also opened a new office in Chile in October 2022.

“State Street’s growth in the LatAm region is further solidified by this strategic expansion in Colombia,” said Marcia Rothschild, State Street head of Latin America and The Caribbean. “We look forward to strengthening relationships with our existing clients and expanding our outreach to new clients in the country. Andres is a strong leader who will take this new office in an exciting direction.”

“I am eager to lead this new office and expand State Street’s footprint in Colombia,” said Zambrano. “This regional growth is only poised to continue across Latin America and I look forward to working with the team to provide the top-tier products and services clients have come to expect from State Street.”

Zambrano brings more than 17 years of experience in the Colombian and Latin America financial services sector. He joins State Street from Citibank, where he spent nine years holding several local and regional roles as product and country manager across the Latin America direct custody and clearing, and product development teams. He also worked at BNP Paribas as custody product manager.

About State Street

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 $37.6 trillion in assets under custody and/or administration and $3.6 trillion* in assets under management as of March 31, 2023, State Street operates globally in more than 100 geographic markets and employs approximately 43,000 worldwide. For more information, visit State Street's website at www.statestreet.com.

*Assets under management as of March 31, 2023 includes approximately $59 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 Global Advisors are affiliated. Investing involves risk including the risk of loss of principal.

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