Charles River Development, a State Street Company, announced today that Operadora de Fondos Banorte, SA de CV, SOFI, Grupo Financiero Banorte ("BANORTE"), one of Mexico’s largest mutual fund companies, is now live on Charles River’s cloud-based Investment Management Solution (IMS). Banorte utilizes Charles River IMS to modernize their front, middle and back-office operations and to streamline the management of their domestic and international equity, fixed income, and multi-asset portfolios.

Banorte will benefit from Charles River IMS’s modern cloud technology that delivers automated workflows and straight-through processing for portfolio construction, performance attribution, order management, and compliance. The solution’s global, multi-asset view of cash and positions in real time helps drive better decision-making and maximizes operational efficiency.

“The complexities of managing global multi asset portfolios, meeting the needs of our investors, and delivering innovative products to market were key drivers to transition to Charles River’s cloud platform,” said Alejandro Aguilar Ceballos, CEO of Operadora de Fondos Banorte. “Charles River IMS allows us to capture greater efficiencies with automation and simplified workflows, freeing internal resources to focus on business priorities and better serve our clients.”

“We are thrilled to expand our collaborative partnership with Banorte in support of their goals and growth strategy,” said Spiros Giannaros, CEO and President of Charles River Development. “Our platform provides Banorte the flexibility to modernize their operating model while expanding product offerings, supporting future growth, and keeping pace with changing market conditions.”

About Grupo Financiero Banorte (GFNorte)

Grupo Financiero Banorte (GFNorte), is a leading financial institution in Mexico, with the largest business diversification and continuously seeking ways to innovate in the financial sector, offering a wide variety of traditional and digital products and services, through its broker dealer, annuities & insurance companies, retirement saving funds (Afore), mutual funds, leasing and factoring company, warehousing and recently announcing the inclusion of a digital bank. Banorte is the second largest financial group in Mexico in terms of loan portfolio, the number two provider of loans to governments and the second largest bank in mortgage loans. In addition, the retirement fund administrator Afore XXI Banorte, of which GFNorte owns 50%, is the largest in the country in terms of assets under management. Banorte is the only commercial bank, among the six largest institutions, whose decisions are made locally without the influence of external parent companies, which has proven to be an advantage in adapting with agility to the changes and alternatives presented by the country.

About Charles River Development, A State Street Company

Investment and wealth managers, asset owners and insurers in over 30 countries rely on Charles River IMS to manage USD $60 Trillion in assets. Together with State Street’s middle and back-office services, Charles River’s cloud-based front office technology forms the foundation of State Street Alpha®. Charles River IMS helps automate and simplify the investment process across asset classes, from portfolio management and risk analytics through trading and post-trade settlement, with integrated compliance and managed data throughout. Charles River for Private Markets helps solve complex data challenges for investors in private credit, real estate, private equity, and infrastructure. Charles River’s partner ecosystem enables clients to access the data, analytics, application and liquidity providers that support their product and asset class mix. With more than 146% increase in headcount over the last 5+ years, Charles River serves clients globally offering 24/7 support. To learn more visit www.crd.com.

*Statistics as of Q2 2024. Assets are inclusive of clients using the platform for purposes of secondary compliance.

About State Street Corporation

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 $44.3 trillion in assets under custody and/or administration and $4.4 trillion* in assets under management as of June 30, 2024, State Street operates globally in more than 100 geographic markets and employs approximately 53,000 worldwide. For more information, visit State Street's website at www.statestreet.com.

* Assets under management as of June 30, 2024 includes approximately $69 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.

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Media Ed Patterson epatterson@statestreet.com (404) 213-3106

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