Credit Suisse (CSGN.S) has signed an alliance agreement with Corporacion Actinver (ACTINVRB.MX) to develop their wealth management businesses in Mexico, the Swiss bank said on Wednesday.
Under the arrangement Credit Suisse will transfer to Actinver clients with predominantly domestic needs along with a team of relationship managers.
The Swiss lender will keep the relationship and advisory services of Mexican clients with complex, global needs, it added, while transferring the local custody and execution business to Actinver, a local wealth manager.
“Jointly we will offer our clients the best of both platforms,” said Nicolas Troillet, CEO OF Credit Suisse Mexico.
Credit Suisse has had a local presence in Mexico since 1964 and sees the country as a key growth market for its wealth management business.