February 25, 2021 |
JPMorgan's private banking division in Mexico is discontinuing wealth management services for its local onshore clients and suggesting they shift their money over to BBVA, a source told LatinFinance on Wednesday.
The decision was related to a redirection of business strategy, a source with knowledge of the shift in business practices at JPMorgan’s Mexico Private Bank told LatinFinance.
Onshore clients invest locally with a local advisor while the bank's global platform of products and services r
Onshore clients are directed toward BBVA as an alternative for wealth management services, source says