Filling the Racks
Sep 1, 2004
The president of Mexico's Stock Exchange wants to build a one-stop shop for investors. The first customers? Private pension funds.
If Guillermo Prieto has his way, Mexico City's Stock Exchange is about to become a financial supermarket. He says customers loaded with cash are waiting at the door.
Prieto predicts his customers will be the Afores, or private pension funds which, come January, will be allowed to buy equities indirectly. "As of now, they have nearly $40 billion and they will be able to invest that gradually into the market," says Prieto, who works in a glass-roofed office that would look nice in a James Bond movie. "It's a financial supermarket. That's the fundamental objective. We want to fill the racks. And then people can come and participate."
Prieto, a Harvard graduate and veteran of the Mexican Finance Ministry, took over as the Stock Exchange's president in early 2001....
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