BBH's client Compañia de Seguros Confuturo as an institutional investor oversees $2B in assets abroad.
Asset servicing provider Brown Brothers Harriman (BBH) has been tapped to provide custody and fund order services for a Chilean insurance company, Compañia de Seguros Confuturo SA, which, in its role as an institutional investor, oversees $2 billion in assets abroad, officials say.
“Confuturo’s investments abroad have increased significantly, as has the diversity of instruments, counterparties, and transaction frequency. Therefore, we need a partner that can facilitate our operations through simple yet robust processes and the delivery of timely information,” says Alvaro Reyes, chief risk officer (CRO) for Confuturo, in a prepared statement. “We trust that BBH will provide us with the service that will allow us to continue growing and diversifying our investments.”
Compañia de Seguros Confuturo is part of Cámara Chilena de la Construcción (CChC), a major player in the life insurance industry in Chile.
“Rapid growth, evolving regulations, and increasing product complexity in Latin America” are driving the demand for custody and fund solutions in the region, says Daniel Montoya, managing director and head of relationship management for Latin America at BBH, in a prepared statement. BBH offers custody support, a bilingual global service model, and “deep expertise in the region” that helps it customize solutions, he adds.
Officials say BBH has supported pension funds, banks, insurance companies, asset managers, and third-party fund distributors in Chile, Colombia, Mexico, and Peru for almost 30 years. BBH Investor Services offers asset servicing and operating model solutions to global asset managers and financial institutions. Its asset servicing solutions include custody, global tax services, depositary and trustee, accounting, administration, transfer agency, and foreign exchange.
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