JP Morgan sale of Mexico; refers refers to a FPA

JP Morgan Chase & Co., undertaking a global presence in financial services, is withdrawing from the private bank in Mexico, debit and that some of its customers adorned in some of the larger economies of Latin America are moving their assets to international financial capital.

Agreed with Bloomberg, persons with knowledge of the material that the largest bank of the United States made an agreement with BBVA to transfer local deals.

No matter, the source of dicho medio dijo que, pese a la salida of the company of New York, its customers in Mexico will continue to use the banking services provided by their platform.

Following the decision to discontinue the Mexican Local Heritage Management Services, the second largest economy in Latin America, has been linked to a move by JP Morgan in Brazil the verano passed, in the que closes its local private bank negotiation and refunds to its Brazilian patrimonial customers at Banco Bradesco SA.

Senala that the bankers have seen in recent years Latin American families have been searching for diners in world capitals.

“In Mexico, the populist politicians of the president Andrés Manuel López Obrador, including a fiscal repression, accused some families of transferring more wealth to the exterior. The extraterritorial accounts represent the mayor of the private banking business of JPMorgan in Mexico ”said one of the sources to Bloomberg.

A pesar de su retirada, JP Morgan mantendrá algunos negocios en México, which includes a bank for investment, trade and treasury services. The carrier of the company is not here to stay.

Agreed with Bloomberg, JP Morgan is the largest bank in Mexico between other global giants and minor operations.

Cabe records that the company signed in August 2020, that Mexico is not considered a ‘paradise’ to invest in between the emerging markets consequence of the economic and political conditions of the country.

Nur Cristiani, Director of the Department of Variable Rental Analysis and Strategy for Mexico at JP Morgan, explained that the country was considered as a refuge for inversion, while it was losing its status.

“Mexico has set out to be this paradise, the ‘safe heaven’, as we call it, the emerging markets.” aseguró.

“It’s one of the markets where you take refuge,” was the most undeveloped of the emerging, hoy en día no es así. For the sake of the market conditions and idiosyncrasies and economic and political conditions of our country, we want a more emerging market, ”he said.

The financial institution of the state indicates that for reverse the situation the country should opt for a public policy that will attract inversions to the country.

In addition, the state-of-the-art signaling company, Mexico, compares other attractive lucia nations, by estimating that the shareholder market generates a lower yield in relation to nations composing the emerging markets index and America.

JP Morgan’s antecedents in Mexico are being repaired more than a sail. Since the finals of the XIX sailing season, the company has been actively working and continuing to form the financial government of the Mexican government and the private sector of this country.

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