Credit Suisse, Switzerland’s No. 2 bank, has expanded its presence in Mexico City in recognition of the importance of the local market. Private clients of the bank will be able to profit from broader services.
Credit Suisse (CS) has opened its first advisory office in Mexico City in recognition of the opportunities in this market. The bank operates a unit in the country, fully equipped with a banking and a brokerage license. The Swiss bank is the biggest trader on the Mexican exchange and a large player in the emissions business.
Apart from Brazil, Mexico has become the most important market for the bank in Latin America. Following the opening of the new service center, wealth-management clients will receive their advice at the offices of the bank in Mexico City as part of the asset allocation process.
Further Expansion Envisaged
The step is a further sign of Credit Suisse’ intentions to expand in the region, the bank said. In Mexico, the wealth-management division of CS mainly aims to attract more business people, something it successfully does in Asia.
Iqbal Khan, the head of the International Wealth Management division, opened the offices and said that the bank aimed to be a player in the business with corporate credits. The bank had a broad product portfolio, including the asset management and investment banking business, he added.
