BNP Paribas makes moves in Mexico 15 May 2020Mexico City Reporter: Maddie Saghir
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BNP Paribas Securities Services has started operations in Mexico, providing daily accounting and valuation services as well as tax pricing and regulatory reporting.
The operations will be run through an existing BNP Paribas subsidiary - BNP Paribas Asset Management México, S.A. de C.V. Sociedad Operadora de Fondos de Inversión.
The opening of a new market in Mexico is a major milestone for BNP Paribas Securities Services in the Americas region.
The Mexico office joins Brazil, Chile, Colombia, Peru and the US as the seventh country in the Americas where BNP Paribas Securities Services has local expertise.
Francisco Hernandez, country head for Mexico, stated: “We have been growing our presence in Mexico significantly over the past few years and are delighted to be able to offer local clients new products and solutions. With this new milestone, we are now able to offer our institutional clients a more complete pan-Americas fund services solution.”
Claudia Calderon, head of Hispanic Latin America at BNP Paribas Securities Services, commented: “This opening is one more step in expanding our Latin America presence, and highlights the strength of our offering in the region, as we continue to leverage our global and multi-local expertise around the world."
BNP Paribas has had a presence in Mexico for over 50 years. In December 2019, BNP Paribas obtained approval from the Mexican Banking and Securities Commission to incorporate as a local bank in Mexico.
According to BNP Paribas, this will enable it to further expand its product offering to include Global Markets, an area where the bank is a leader. The strategy is part of a wider regional growth plan encompassing the Americas.
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