Filling the Racks
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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