The office will be headed by Felipe Serani, who had steps through BBVA Chile, HSBC and Scotiabank.
BBVA is back. After the sale of its operations in Chile to Scotiabank in 2017, the Spanish-owned entity will return to national soil, this time through a representative office.
The bank received approval from the Financial Market Commission (CMF) to open this office in Santiago, which It will be managed by BBVA Corporate & Investment Banking (BBVA CIB).
“In line with the commitment of BBVA CIB, BBVA’s wholesale banking division, to accompany its customers in the geographies in which they are present, the bank has decided to open a Representative Office in Chile that further enhances its solid proposal of value for Latin America. It is an attractive market and one of the economies with the greatest potential for long-term growth in the region that stands out for the dynamism of its business sector,” says the BBVA statement.
The Representative Office will be headed by Felipe Serani, who has more than 15 years of experience in local corporate and investment banking. During his professional career, he has held different positions as a banker for large corporations and institutions in BBVA in Chile, HSBC Chile and Scotiabank Chile and has executed numerous transactions with several of the main companies in the country.
In this office, the investment bank “will focus on developing and promoting the products and capabilities of BBVA Corporate & Investment Banking. The bank’s objective is to accompany both large multinational clients present in the country, as well as large local corporations, public companies, and other national and international institutional clients,” he says.
BBVA will offer investment banking products such as corporate financing (bilateral and syndicated loans), project finance y M&A; international financial market products, such as international bond issues or financial hedges (derivatives); and also, transactional banking products and services such as foreign trade or treasury management, mainly in dollars and in the near future in Chilean pesos, thanks to the new regulation of this currency.
Additionally, BBVA indicates that “it will make available to its Chilean clients the knowledge and experience to provide advice and financing solutions that support them in the transition towards more sustainable business models, a business segment in which it is already playing a role key in the markets in which it is present”.