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Article: Americas: Private Banking - Latin Money Heads Home - Although The Offshore Market Is Important To Latin Americans, Some Are Now Being Tempted To Bring Their Wealth Onshore. Monica Campbell Reports.
- Article from:
- The Banker
- Article date:
- March 1, 2005
CopyrightCOPYRIGHT 2005 FT Business. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Thanks to a strong, more stable local banking sector, the trend among affluent Latin Americans to have their assets managed offshore is slowly reversing. Sensing an opportunity, many foreign powerhouses, such as US banks Citigroup and JP Morgan, Swiss bank UBS and the UK's HSBC, are setting up private banking shops in the region, hoping to convince the wealthy to do their financial shopping locally, instead of heading to Miami.
For many foreign banks, entering Latin America's private banking scene is a natural step. Many are now entrenched in the region, have acquired local institutions with a healthy client base, and see the benefits of catering to the onshore ...
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Article: Richie Prager Named Head of Latin America for Bank ...
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May 5, 2004 ;
700+ words
... ... has been named head of Latin America. Prager, who is based ... America's operations in Latin America, including International Private Banking. "I am delighted that ... lead our operations in Latin America. This is an important ...
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