State Street Investment Management has bolstered its commitment to Spain with Madrid office opening.

Boston-headquartered State Street Investment Management has opened a new office in Madrid, a step that consolidates its commitment to the Spanish market and reinforces a relationship that the firm has maintained for more than a decade with Spanish clients and prospects.

From this new location, the firm will be in a better position to respond to the Spanish market's growing relevance and its role within an expanded region that connects Europe, Latin America and the offshore markets of the US. Spain is a high-growth market, with its own dynamics within the European environment, characterised by a sophisticated financial ecosystem and a growing interconnection with international capital flows, the firm said in a statement. This, coupled with the presence of numerous key financial institutions in the region, will provide the impetus for State Street to strengthen its presence in the region in order to serve institutional clients, distributors and financial advisors.

The firm has experience in both index and active management, which allows it to offer a full range of investment solutions. From efficient, low-cost portfolio building blocks to more complex and innovative strategies, State Street takes a consultative approach that takes into account the particularities of the Spanish market, including its tax framework, the relevance of discretionary management and supranational dynamics.

“As a truly global firm with an extensive footprint, it’s incredibly important for us to ensure that we are best placed to support our clients around the world,” Ann Prendergast, head of EMEA at State Street Investment Management, said. “This office opening clearly underlines our commitment to the Spanish market and our clients therein, and will serve as an important base of operations for us as we continue to deliver products and services in support of clients in the region.”

"The opening of our office in Madrid does not mark the beginning of our activity in Spain, but the formalisation of a commitment that we have been building for years with this market," Francesco Lomartire, head of Intermediary Client Coverage for Southern Europe, State Street Investment Management, added. "Spain is a sophisticated market with a clear international projection, and we believe that our global experience and local knowledge allow us to add value from a collaborative and long-term perspective."