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Battlelines are drawn in the fight for Latam's HNWIs

Many of Latin America's high-net-worth individuals are repatriating their funds and an increasing number of foreign investors are targeting the region, thanks to its rapidly expanding economy. With such demand for local product providers, domestic firms are finding themselves having to pit their specialist knowledge against the international reach of large foreign banks, making competition tough.
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Battlelines are drawn in the fight for Latam's HNWIs

Fund managers from across the globe are turning their attention to Latin America. Once the Cinderella of private banking, the region’s burgeoning capital markets and appreciating currencies are now attracting not only local capital, but also expansion-hungry international private bankers suffering in home markets that are mature or in decline.

Some argue that interest in the region is higher than it is in any other emerging market. According to Daniel Enskat, head of global consulting at New York-based research firm Strategic Insight: “Interest in primary region cross-border distribution [in Latin America] is higher by a margin of three to one compared to Asia.”

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