BTG's Marcos Pimentel noted that the firm already distributes with Reliance Asset Management; Evli Fund Management and Capital Dynamics in Latin America, but feels Robeco funds are best suited for the still-unsophisticated Brazilian market.

While Security already has a distribution alliance with Oaktree Capital Mgt., the hiring away of Enrique Santibáñez from Bice was seen as a major step in fully developing this line of business.

While ETFs will still be its main offering, Vanguard Investments Mexico is ready to take on the mutual fund business in the country through subadvisory and directly with the Afores as soon as regulations allow.

Actinver signed an advisory agreement with Canadian manager Fiera Capital to reinforce the operation of its USD 174 million DINAMO fund, as it conducts a manager search for a fund focusing on cyber security.

Akaan Transamerica wants to take on the big players in the Mexican market, not only in wealth management, but also fund management, brokerage and insurance.