Allfunds Bank, the European open architecture and mutual fund platform, is opening a new office in Bogotá, Colombia.
The bank opened its first Latin American office in Santiago, Chile, in 2008, and has been working with clients in Colombia for eight years, offering services for regulated financial organisations.
The new opening follows an increase in interest in international products among pension funds, insurance companies and asset managers. The new office is intended to help improve servicing, and also to consolidate existing client relationships.
Carlos Felipe Stozitzky has been appointed as director for the Bogotá office. He has significant experience in financial markets and asset management, as well as local knowledge.
Luis Ussia, regional manager for Western Europe and Latin America at Allfunds Bank, said: “Providing local servicing is key to be successful across the region. It is a significant investment but it really pays off as clients value nearness and local support. We like to be closer to clients and we try to differentiate ourselves from the rest in that perspective.”
