Deutsche re-enters Mexico amid nearshoring optimism
Euromoney Limited, Registered in England & Wales, Company number 15236090
4 Bouverie Street, London, EC4Y 8AX
Copyright © Euromoney Limited 2024
Accessibility | Terms of Use | Privacy Policy | Modern Slavery Statement
BANKING

Deutsche re-enters Mexico amid nearshoring optimism

Deutsche Bank’s Mexico team says the country is vital for Latin American credibility and that nearshoring will drive FDI in the coming decade.

Woman sorting through row of jackets in factory
Photo: Getty Images

“Mexico will need to bolster its financial system in order to underpin all the investment that needs to be done for more direct nearshoring – to expand the productive capacity,” says Francisco Campos, Deutsche Bank’s chief Mexico economist, who adds that he expects Spanish banks and other international financial institutions active in Mexico to add balance sheet to local businesses.

Campos is speaking from personal experience. In July this year he was hired to head up the German bank’s economics coverage in the country following Deustche’s decision to re-enter Mexico. In 2022, the bank invested €120 million in restarting an onshore brokerage (Deutsche had withdrawn from the country in 2016) and has hired a small team of traders, as well as back-office support, for its new Mexico City office.

Deutsche’s country chief executive, Marliz Mejía, joined the bank from Santander Mexico in 2022.

We’re really preparing for what we believe will be a very good performance in Mexico next year
Marliz Mejía, Deutsche Bank

“Deutsche Bank is a very strong bank in emerging markets, and if you want to do emerging markets you have to do Latin America, and you can’t say that you are active in Latin America unless you are in Mexico,” Mejía tells Euromoney.


Gift this article