By BLOOMBERG Y JUAN CARLOS PEÑA, E&N
JPMorgan Chase & Co. is closing its private bank transaction in Mexico, as well as signaling people with knowledge of the theme, there are customers trained in some of the larger economies of Latin America, he decided to move his money to international financial capital.
JP Morgan pasa has a BBVA
The largest bank of the United States has established an agreement to refer local negotiations to BBVA Mexico, the local unit of Banco Bilbao Vizcaya Argentaria SA, you are one of the people. In Asia, the New York-based company will continue to provide customer services to Mexico traverses of his platform fuera del pais, dijo one of the people.
The decision to discontinue local heritage management services in the second largest economy of Latin America sigue un movimiento similar to Brazil el verano pasado en el que JPMorgan closes its local private bank transaction and refunds to Brazilian patrimonial customers at Banco Bradesco SA.
For both and with agreement consulted sources, JP Morgan staring at his private bank in Mexico as part of a trading strategy, with the option opted for companies with BBVA on the other hand with a red specialized in the segment.
Politicians like the tax representative, empower families to transfer their money to the outside
The families of the Latin America he was looking for money managers in the world capitals in the last few years, the bankers will die.
Off Mexico, the president’s populist policies Andrés Manuel López Obrador, including a fiscal repression, he hired some families to transfer more wealth to the exterior.
The extraterritorial accounts represent the mayor of the private banking business of JPMorgan off Mexico, dijo una de las fuentes.
JPMorgan will continue to maintain other negotiations in Mexico, including investment bank, trade and treasury services. A report from the company declines to make comments.
JPMorgan: Mexico City Mayor
JPMorgan is the largest bank of most Mexico between the global giants without minor operations, according to the dates of the National Banking and Valuation Commission (CNBV).
The other lines of business of the company have been credited, give one of the sources.
Asimismo, according to the information presented by CNBV, JP Morgan account with assets for 194 mil 286 million of pesos al cierre by 2020, equal to 1.74% of the total of resources that manejan los bancos en Mexico.
Last year, it accumulated 864 million pounds in utilities, a 0.85% increase compared to 2019.
En tanto, BBVA Group the global level has a presence in this segment in more than 10 countries.