The proposed acquisition will expand State Street's asset servicing business across Brazil, Mexico and Colombia.

State Street Corporation has signed an initial agreement to acquire the Santander CACEIS Latam Securities Services joint venture in Brazil, Mexico and Colombia. The acquisition will strengthen its presence in Latin America  The joint venture, owned by Santander Group and CACEIS, has approximately US$470billion in assets under custody and US$225billion in assets under administration. State Street said that the acquisition will strengthen its presence in Latin America by expanding its cu