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    Operadora de Fondos Banorte Adopts Charles River’s Cloud-Based Platform

    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.

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    Operadora de Fondos Banorte Adopts Charles River’s Cloud-Based Platform 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 …