Itaú BBA picks Broadridge to support sec lending and repo
07 March 2013 New York
Image: Shutterstock
Itaú BBA has selected Broadridge’s technology and business process outsourcing solution (BPO) to support its USD-based securities lending and repo business, Itaú BBA USA Securities.
Itaú BBA will use Broadridge’s BPO solution to create a single platform to manage its US based prime services operations, technology and hosting needs.
The agreement will also facilitate Itaú’s expansion into the USD-based securities financing and repo businesses.
Gregory Wagner, managing director and global head of prime services at Itaú BBA, said: “Itaú is confident Broadridge is the right strategic partner that will enable us to most effectively grow the business-accelerating time to market and benefiting from their deep securities operations knowledge.”
Joseph Barra, president of international securities processing and global outsourcing solutions at Broadridge, added: “ Broadridges’s BPO model will allow Itaú to minimise its fixed-cost investment in technology and operational infrastructure while also creating new revenue-generating opportunities for the firm as it ramps up broker-dealer capabilities in the US marketplace.”
“Itaú BBA is a highly-respected institution and top name in the Latin American as well as global banking communities, and Broadridge looks forward to continuing to build upon this new relationship.”
Earlier this month, Itaú BBA recruited Kristen Dove and Ross Levin for its prime services division.
Dove has been named head of prime services business architecture and Levin as vice president of prime services sales, trading and marketing.
Itaú BBA will use Broadridge’s BPO solution to create a single platform to manage its US based prime services operations, technology and hosting needs.
The agreement will also facilitate Itaú’s expansion into the USD-based securities financing and repo businesses.
Gregory Wagner, managing director and global head of prime services at Itaú BBA, said: “Itaú is confident Broadridge is the right strategic partner that will enable us to most effectively grow the business-accelerating time to market and benefiting from their deep securities operations knowledge.”
Joseph Barra, president of international securities processing and global outsourcing solutions at Broadridge, added: “ Broadridges’s BPO model will allow Itaú to minimise its fixed-cost investment in technology and operational infrastructure while also creating new revenue-generating opportunities for the firm as it ramps up broker-dealer capabilities in the US marketplace.”
“Itaú BBA is a highly-respected institution and top name in the Latin American as well as global banking communities, and Broadridge looks forward to continuing to build upon this new relationship.”
Earlier this month, Itaú BBA recruited Kristen Dove and Ross Levin for its prime services division.
Dove has been named head of prime services business architecture and Levin as vice president of prime services sales, trading and marketing.
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