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"I think registration in the US will open more doors for us" Claudio Larrain, Larrain Vial |
Larrain Vial, the leading Chilean investment bank and asset manager, has become the country’s first financial group to register a broker-dealer affiliate in the US, a move that should help it to attract more international clients. In August, the Financial Industry Regulatory Authority (Finra), which regulates all 4,700 brokerage firms that operate in the US, admitted the firm as a member. It will trade under the name Larrain Vial Securities US.
The firm, which has $12.5 billion of assets, is one of Chile’s most important independent investment banks and has 76 years’ experience in the Chilean market. It had a 17% market share of all equity operations carried out on the Santiago Stock Exchange between January and June this year.
"The arrival of Larrain Vial Securities in the largest and most important capital market in the world will bring significant and beneficial changes to Larrain Vial Group and to our clients," says Claudio Larrain, the firm’s managing director. "All internal risk controls and processes have been made even more exhaustive.