This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Itau BBA Selects Broadridge To Support New U.S. Securities Lending And Repo Business

Stocks in this article: BR

LAKE SUCCESS, N.Y., March 6, 2013 /PRNewswire/ --  Broadridge Financial Solutions, Inc. (NYSE: BR), the leading provider of investor communications and technology-driven business process outsourcing solutions to financial services firms and corporate issuers globally, today announced that Itau BBA has selected Broadridge's comprehensive technology and BPO operations solution to support its USD-based securities lending and repo business for its New York brokerage arm, Itau BBA USA Securities, Inc.

(Logo: http://photos.prnewswire.com/prnh/20110920/MM71626LOGO)

The agreement enables Itau BBA to leverage Broadridge's Business Process Outsourcing (BPO) solution to create a single platform to manage its U.S.-based Prime Services operations, technology and hosting needs. Broadridge's customizable and scalable BPO solution will also facilitate Itau's expansion into the USD-based securities financing and repo businesses.

"It is an exciting time for Itau as we launch our USD-based securities lending and repo business," said Gregory Wagner, Managing Director, Global Head of Prime Services at Itau BBA.  "We are delighted to collaborate with Broadridge given their proven track record and industry-leading reputation, bundled technology and BPO offering, and domain expertise across securities lending and repo markets.  Itau 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."

According to Joseph Barra, President, International Securities Processing and Global Outsourcing Solutions, Broadridge, "Broadridge's BPO model will allow Itau to minimize 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 U.S. marketplace.  Itau BBA is a highly-respected institution and top name in the Latin American region as well as global banking communities, and Broadridge looks forward to continuing to build upon this new relationship."

This is the first agreement between Broadridge and Brazil-based Itau, the largest bank in Latin America with a market capitalization that ranks it among the largest financial institutions worldwide.

About Broadridge

Broadridge Financial Solutions, Inc. (NYSE:BR) is the leading provider of investor communications and technology-driven solutions for broker-dealers, banks, mutual funds and corporate issuers globally. Broadridge's investor communications, securities processing and operations outsourcing solutions help clients reduce their capital investments in operations infrastructure, allowing them to increase their focus on core business activities.  With 50 years of experience, Broadridge's infrastructure underpins proxy voting services for over 90% of public companies and mutual funds in North America, and processes more than $4.5 trillion in fixed income and equity trades per day.  Broadridge employs approximately 6,200 full-time associates in 13 countries.

For more information about Broadridge, please visit www.broadridge.com.

About Itau BBA

Itau BBA is Itau Unibanco's Wholesale, Investment and Treasury Bank. Itau Unibanco is Brazil's largest financial conglomerate and one of the world's largest by market value. It has a portfolio of companies with revenues in excess of US$ 100 million and provides global services to around 1,300 of Latin America's largest companies as well as around 700 institutional investors.  Itau BBA's service portfolio includes asset investment, merger and acquisition, share offering, securitization, derivatives, structured transaction, cash management, finance and guarantee services, among others.

For further information: Marcelo Serrano marcelo.serrano@itaubba.com++ 55 11 3708-8921

Rui Dantas rui.dantas@itaubba.com++ 55 11 3708-8701

Media Contacts: Kelly M. Howard  Broadridge +212-981-1347 kelly.howard@broadridge.com

Krista Eccleston Edelman+212-704-4438 krista.eccleston@edelman.com

 

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,164.95 -251.90 -1.45%
S&P 500 1,994.99 -26.26 -1.30%
NASDAQ 4,635.24 -48.1670 -1.03%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs