Principal Chile strengthens wealth business and offshore fund lineup

With Andrés Silva’s appointment as head of Wealth Management and the incorporation of a dozen UCITS funds to its local platform, Principal now covers the HNW segment, i.e. clients with financial assets of over USD 1 million.

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World Wealth Report 2017: HNW population and wealth hits new high as ‘BigTech’ encroaches

More than half of HNWIs (56.2%) say they are open to using BigTech services for wealth management, expecting efficiency, transparency, innovation, and excellent online capabilities, the CapGemini report found.

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Bradesco targets Brazilian riches abroad

Banco Bradesco, Brazil’s second-largest bank by market value, said it will join rivals Banco Itau, BTG Pactual and XP Investimentos and open an office in Miami in July 2017.

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Two more ex-Merrill advisors launch independent boutique firm

The principals of the newly launched Coral Gables-based Maximai Investment Partners were said to run client books worth a combined USD 550 million.

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Credit Suisse to shutter Panama private-banking office

The bank said the closure was unrelated to the recent Panama Papers leak, noting that is remains committed to the region via its presence in Mexico, Brazil and Chile.

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UBS names celebrated Citigroup vet as Americas vice chairman

Ed Montero had spent more than 50 years at Citigroup, most recently holding the position of vice chairman of Citi Private Bank and Wealth Management Latin America.

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Credit Suisse adds several UBS wealth managers to Mexico-based team

Under CEO Tidjane Thiam, Credit Suisse's new strategy is centered on the expansion of wealth management operations in emerging markets, including Mexico and Brazil.

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BTG Pactual sets sights on local asset management in Mexico

The firm, which has focused mostly on brokerage since its arrival in March of 2014, will expand its operations in Mexico to private banking and fund management, under the direction of Guillermo Ortiz Martínez, ex-governor of the Bank of Mexico.

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Quilvest latest entrant into booming Chilean multi-family office business

The global firm hired two former Credit Suisse executives, Javier Mendicute and Andrea Cuomo, to launch the new venture in Chile.

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Merrill sets USD 2.5 million as minimum for new Latin accounts

Investors residing in some countries - including Venezuela and Argentina - will need to have at least USD 5 million to open an account.

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