JP Morgan, the largest bank for assets in the United States and one of the most powerful banks in the world, will close its patrimonial banking business in Mexico and transfer its customers to BBVA, reports Bloomberg ayer mercoles.
The reason why this business starts is because of the richer customers, the ones who are waiting in this segment, are moving their capital out of the country to international financial centers.
This movement of the banking bank is serious in consequence of its decision to open the patrimonial bank in Brazil, as it was passed in April and handed over to its customers by the Bradesco bank, in agreement with the middle bank.
However, JP Morgan oversees investment banking, trading and treasury services.
What is the private bank?
The private or private bank is focused on high-level socio-economic clients, and a more personalized and administrative attention to large-scale conversions and sophisticated financial instruments.
As of September 2019, BBVA manages assets by 547,036 million euros (MDP), participates in 22% of the brand and México.
As of September 2020, JP Morgan had assets of 21,463 mdp.
Salida of capital of Mexico
Fuentes dijeron a Bloomberg que Andrés Manuel López Obrador’s governor’s policies empower families to move more wealth to the exterior. The decision to revert legally or in practice the energy reform that was introduced in the private investment sector also affected both the physical investment and financial assets.
Only in 2020, salieron mexico 9 mil 716 million dollars of investment in card, when in 2019 salieron 6 mil million, agreed with dates of the Bank of Mexico (Banxico).
In November 2019, Elgano’s state bank Morgan Stanley ordered an inversionist to take over Mexican assets and close large positions. And other words, recommend a los inversores vender todo y salirse de México.
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