Friday, 17 September 2021 17:35

Bancolombia will now have presence in the United States

Written by Evelyn Alas

The Superintendencia Financiera de Colombia (SFC) authorized Grupo Bancolombia to initiate procedures for the creation of a new broker-dealer and an investment advisor in the United States. These companies will allow the Group to deepen its internationalization strategy, which already consolidates its presence in Central America with personal, commercial and corporate banking.

The purpose of the authorization is to establish a broker-dealer and an investment advisor in that country.

With this, Grupo Bancolombia begins the procedures before North American entities for the consolidation of its international offer.

The broker-dealer will provide transactional services for the purchase and sale of fixed-income securities and international equities, mutual funds and transactional access. The investment advisor will provide investment advice to its clients and manage client portfolios.

Subject to the respective regulatory authorizations and licenses in the United States before the la Autoridad Reguladora de la Industria Financiera (ARIF) and the Comisión de Bolsa y Valores​​ de Estados Unidos (CBVE), these entities are expected to begin operations in the first half of 2022.

This initiative directly benefits the Group's current and new clients, and is also a milestone in the company's internationalization strategy.