Broking: Larrain Vial capitalizes on pan-Latin American project
Opening for business in Peru; Expects to grow on Lima exchange
Larrain Vial, one of the biggest and oldest fund managers and stockbrokers in Chile, has received permission to open a brokerage house in Peru and plans to establish another one in Colombia next year.
On July 1, the Comisión Nacional Supervisora de Empresas y Valores de Perú (Conasev), the Peruvian equivalent of the US SEC, granted permission for Larrain Vial to start operating as a stockbroker. It will be fully operational at the start of August. The Colombian brokerage is expected to be set up some time next year.
"Our strategy is to work with international and Peruvian investors"
"Our strategy is to work with international and Peruvian investors," says Juan Jose Ponce, chief investment officer of Larrain Vial in Peru. "Our investor base includes high-net-worth individuals from Peru, Chile and Colombia. At first, we will concentrate on institutional investors including pension funds but hope to expand this to include retail investors in the longer term."
Larrain Vial has been one of the pillars of Chile’s financial establishment since 1934 and first entered the Peruvian market in 2004.