J. P. Morgan has been present in Peru for 20 years offering the usual financial advisory services to companies, while competing directly with local banks. Its activities, however, were not allowed to be localizedin the country. With the authorization, J.P. Morgan Banco de Inversión can expand services and start making negotiations with national instruments.

To follow the changes, J.P. Morgan Peru intends to build a new office structure with a legal department, human resources, risk management and accounting for the new negotiations. A growth that, according to Juan Carlos Arribas, head of Peru’s office, might even indicate a change from mere investment bank to solid market maker.

Mr. Arribas believes that, despite Peru’s currency devaluation and the recent market retraction, the demand in certain areas, like infrastructure, will incentivize financial services though M&A and acquisition financing operations.