The Finance Ministry unveiled an open-architecture scheme that would prevent mutual fund managers from working exclusively with only one mutual fund distribution company or entity (usually the bank that owns them), and ensure that any distributor willing to offer a manager's fund should be allowed to do so.
Iñaki Bernus is the new director of private banking at Credit Suisse
January 29, 2015 by
Bernus has over 24 years’ experience in private banking; prior to joining Credit Suisse Mexico in 2010, he was director of private banking at Invex Grupo Financiero and regional director of wealth management and specialized advisory services at Banorte.
Banamex announces winners of USD 600 million Asian mandate
January 14, 2015 by
The announcement was a coup for Compass Group Mexico, which represents two of the firms that will share in the USD 600 million mandate. Rodrigo Blancas (photo), head of mandates, also revealed that it will be disbursing assets to previous winners of already-existing mandates, after many months of regulatory wrangling.
Natixis Global AM begins Latin American rollout with new Mexico City office
January 5, 2015 by
The opening of the office in Mexico City is Natixis Global AM's first effort to be present in Latin America and build a regional business. It is part of an ambitious plan that will also see the opening of two new offices in 2015, in strategic Latin American cities, Fund Pro Latin America has learned.
Itaú’s Setubal mentions Banamex as potential entry to Mexico
January 5, 2015 by
Itaú's interest in Banamex, which was acquired by Citigroup in August 2001 for USD12.5 billion, comes as Roberto Egydio Setubal (photo) seeks to build the São Paulo-based lender into the largest Latin American financial conglomerate.
Amafore: Afores will be managing USD 300 billion in 2020
December 10, 2014 by
With projections based on current conditions of the Retirement Savings System - i.e. a 6.5% compulsory contribution and 49.6% investment placed in government debt - the Afores are expected to reach net assets of MXP 4.3 trillion (USD 295 billion) by the end of 2020.
Latest Market Vectors ETF in Mexico provides play on fracking
December 5, 2014 by
Deutsche Securities Casa de Bolsa in Mexico will act as local sponsor and filing agent for depository receipts of the new product, Market Vectors Unconventional Oil & Gas ETF (Ticker: FRAK).
Afore Banamex teases new international mandate
November 26, 2014 by
Fresh off the announcement of a commodity mandate with Deutsche Bank, Wellington and Schroders, Banamex said it is in the process of interviewing managers for what would be its third international equity mandate.
Natixis Global names Schroder exec to top post at new Mexican office
November 26, 2014 by
Natixis named as its managing director for Mexico Mauricio Giordano, an executive that had up until August 2014 been working in the business analysis and implementation area at Schroders, a firm that has led the way in successfully securing global mandates from the Afores.
Itaú now licensed to operate broker-dealer in Mexico
November 26, 2014 by
Itaú has been expanding in Latin America, in an attempt to ease its dependence on Brazil, where a recession has taken hold.
