JPMorgan’s shift to a purely offshore wealth management business in Latin America saw a successful first half of 2022. The bank captured portfolio flows going offshore from the region of around $22 billion in 2021 and a further $10 billion in the first half of 2022.
However, Edinardo Figueiredo, chief executive of Private Bank Latin America at JPMorgan, is cautious about predicting similar momentum for the rest of 2022.
“We had been benefiting from the combination of liquidity events within Latin America and a domestic investment environment that was the lowest ever seen in some countries,” he tells Euromoney.
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