Three Firms Combine To Create Mexican Asset Management Firm

Robbie Lawther

6 October 2017

Netherlands-based , which will be based in Mexico.

Akaan Transamerica has recently received formal approval from the Mexican Banking and Securities Commission (CNBV) to initiate operations and go to market, the firm said in a statement.

It will offer a wide variety of Mexican and international mutual funds as well as diversified global investment solutions. Akaan Transamerica has implemented Aladdin®, BlackRock's trading and risk management platform.

AT's chairman and founder, Fernando Quiroz, was formerly chief executive and vice chairman of Citigroup's ICG Mexico and Latin America as well as vice chairman of the board of directors for Banco De Chile.

"We are delighted to have formed a joint venture and a strategic alliance with Aegon and Transamerica,” said Quiroz. “Our teams worked extremely hard to set up a new asset management company, with a state-of-the-art technological platform and the most innovative financial solutions for our clients."

Aegon NV, based in the Netherlands, is a global provider of life insurance, pensions and asset management. Transamerica is a provider of life insurance, retirement and investment solutions, serving millions of customers throughout the US. Administradora Akaan is a Mexico-based wealth management firm that provides solutions to Mexican individuals, families and institutions.

In 2013, Aegon entered into a joint venture with Administradora Akaan and created Akaan-Aegon to explore financial services opportunities.