Credit Suisse Opens New Advisory Office In Mexico

Robbie Lawther

31 May 2017

Swiss lender has opened a new advisory office in Mexico City, as the bank looks to expand its operations on the continent. The bank said its optimistic view on Mexico's future played a part in opening the new office.

The office will allow its private banking clients to receive advice on-site and to invest their assets locally while at the same time benefiting from Credit Suisse's global footprint, the firm said yesterday in a statement.

The bank said “the outlook for Mexico’s economy is promising” and the country “continues to be one of the key growth drivers in Latin America”. The Swiss bank also added that it is estimated Mexico's GDP will increase by 2.7 per cent in 2019.

According to Credit Suisse’s Global Wealth Report, 20 per cent of people in Latin America with wealth in excess of $1 million are domiciled in Mexico, and wealth per adult is expected to grow by 26 per cent over the next five years.

Credit Suisse also added in the statement, “although the Mexican economy is currently facing considerable challenges, it offers promising long-term opportunities. Credit Suisse is convinced that it has the right setup and expertise to support its Mexican clients in their future plans for growth”.

“With the new advisory office, Credit Suisse has the local presence and specialist access required to cater specifically to the investment and lending needs of our Mexican clients,” said Pedro Jorge Villareal, Credit Suisse chief executive Mexico. “We see tremendous opportunities for providing our clients with holistic solutions."