MEXICO CITY -(Dow Jones)- Mexican bank leader Grupo Financiero BBVA-Bancomer SA said it has launched a private bank Wednesday to provide comprehensive services for wealthy customers.
Private Bank Bancomer said its clients account for 40% of Mexico's market for high net-worth individuals.
"People don't have to think about offshore institutions to get answers to their financial needs," said Jaime Alvarez, who heads the private bank, in a release.
The new bank will coordinate services from all areas, including business and commercial banking, investing and trustee services.
BBVA Bancomer is the Mexican unit of Spain's Banco Bilbao Vizcaya Argentaria SA (BBV).
-By Tom Barkley, Dow Jones Newswires; (5255) 5080-3451, tom.barkley@ dowjones.com
Source: iWon
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