The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site.

All material subject to strictly enforced copyright laws. © 2020 Euromoney, a part of the Euromoney Institutional Investor PLC.
Banking

Banker targets DR to become region’s financial centre

Latin America’s bankers take note. If Gaetan Bucher has his way, within four years they will be living and working in the Dominican Republic (DR).

Gaetan Bucher, Independent Financial Centre of the Americas “The existence of an electronic exchange makes [the centre] more powerful,” says Bucher. “It’s very important as clearing and settlement is difficult to do in Latin America”

Bucher, a Dominican national who worked in Switzerland for many years, wants to set up a regional financial centre in his homeland. The centre, called the Independent Financial Centre of the Americas (Ifca), will allow commercial and private banking, asset management as well as investment banking. It will include a new electronic exchange, the Latin American International Financial Exchange, which will for the first time enable financial instruments to be cleared and settled through one hub in the region.

“The existence of an electronic exchange makes [the centre] more powerful,” says Bucher. “It’s very important as clearing and settlement is difficult to do in Latin America.”

Although at first glance the DR might not seem the most obvious location to become Latin America’s heartbeat, Bucher is serious and determined. He has already spent four years and, together with other private backers, $30 million researching and preparing the groundwork for the centre.

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.

SUBSCRIBE ONLINE TODAY

Unlimited access to Euromoney.com and Asiamoney.com

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually

FREE 7 DAY TRIAL

Unlimited access to Euromoney.com and Asiamoney.com, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors

LOGIN NOW

Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree