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Itau Private Bank International CEO Frances Sevilla-Sacasa on economic growth in Latin America and the opportunities to invest in the region.
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In his senate today approving the takeover -- big wide Piaf.
We have someone who sees a business opportunity through the volatility the Latin American market.
Francis -- what's the cost side is the president of -- -- private bank international.
She's joining us in a Fox Business exclusive.
There are many many positives about what's going on of Latin America but then there are some.
Some bumpy -- certainly when you get worried about things like nationalization.
And and sort of questions about how business is being -- but you see opportunity.
Obviously we got to pull apart as far as regions are concerned but first give us your sense of how the region looks.
-- the region has performed very well over the past recent.
Years and so from our perspective it's a great place to continue to do business to expand our business.
As ahead of the private bank for international.
-- Latin America we are looking to expand much more to attract talent to the organization.
You know.
Peaked out -- has been in Brazil for many years almost ninety years so it's accustomed to working in.
Good times and in volatile times and certainly.
You know this is a great time for Latin America we are extremely committed to their region and that's why we continue to expand we have market dominance in many.
Business lines in Brazil so we're looking to replicate that and do that throughout Latin America let's talk.
About specifically what happened in Argentina I mean that this may not be the end of their takeovers -- private companies.
And it may not be just Argentina I mean we have seen similar things in Venezuela.
And Bolivia and -- there are other countries that are following that model the gold socialist model of nationalization.
Is it gonna spread beyond what happened -- why PS.
I think I'm in Latin America over many years we have seen instances like that an isolated cases.
I don't think this is going to be widespread I think the progress that Latin America as a region has made.
Has been amazing over the past us several years and I think it will continue to be I see this as an isolated incidents.
-- -- The business environment is she used up a lot by these opportunities -- becoming the way of your region and that of course.
World Cup not to mention the Olympics and and so as we look at that it's exciting but.
It -- the banking industry globally is now going to be subject to all kinds of regulation.
Whether it's from one country or another I mean -- the long arm is reaching across oceans for this how do you maneuver around that continue to -- great strong business.
While the beauty of a bank like -- so is that it has.
A very strong balance sheet -- has a real commitment to risk management.
And it has proven that over its history.
And it operates in it in a market that has had also times of -- volatility and regulation.
And so we're used to dealing and that kind of environment.
So I think for for a firm like ours you know that is only it's it's good it's good that we continue to see.
Focus on risk management and disciplined execution.
And that's something that were accustomed to doing and we will continue to abide by all of the regulations and I think come.
Good oversight and it in your company is the way to deal with issues like that.
China how much is China now investing in Latin America's very often people look to China as an indicator where they should put their money.
Well that's a good question and and one of the reasons only one of the reasons that Latin America has done very very good over the past several years.
Is that it has a very very natural resource base and commodities and obviously the expansion in China have benefited the region.
So we'd look at it from a from a Latin American perspective.
What are our clients in Latin American wanting to do and obviously clients today are looking for global investing opportunities.
Not only within Latin America but externally.
But our clients are also very deeply committed to the region which is why I think that.
A bank like -- we know who is has.
Deep ties to the region very committed to expanding in the region.
Is in a great position to offered these kinds of opportunities to add to our client base Francis of ES the gossip thank you very much for coming in appreciate it.
Thank you very.
