Tell us briefly about your role at Credicorp. 

In addition to being country head of Credicorp Capital Peru, I currently work as the chief operating officer at regional level for the company. Among my primary functions is overseeing departments including,  processes and operations, technology, human resources and legal.  I recently took responsibility for running Credicorp Capital’s Digital Lab as well.

What are the main objectives of the recent reorganization of the asset management and wealth management divisions in countries in the region and, how did it  impact operations in Peru specifically?

Countries in the region continue to see significant investment flows toward offshore vs. onshore platforms. The USA is one of the most sought-after locations by clients, especially high-net-worth clients. The uncertainty and political ups and downs of the countries in the region, make offshore platforms more and more advantageous.

In light of this, Credicorp Capital has been reinforcing our platform in the USA, in order to offer our clients the best value proposition, one employing comprehensive advice capable of satisfying all their investment needs. . 

 In our region we have seen an increasingly competitive market, with players from within and outside the region offering their services. This is good for the region and the industry as a whole because it forces us all to constantly look at how we can improve our clients’ experience, via innovative products and services, as well as work more closely  with them to better understand and meet their needs. 

Finally, we see a very strong trend in the region of greater commitment to, and use of, technologies digital platforms which improve the customer experience. Human contact is fundamental in the asset & wealth management business because it is vital when building trust and maintain long-term relationships, but this human factor is enhanced and complemented with digital services.

The vast majority of competitors, if not all of them, have undertaken some form of process transformation allowing them to quickly and efficiently develop a better digital experience for their clients.

The development of digital capabilities also allows asset & wealth managers to offer their services and products to a wider audience by using more cost-efficient channels.

Countries in the region continue to see significant investment flows toward offshore vs. onshore platforms

What strategy do you favor to strengthen your foothold in the United States?

In recent years, Credicorp Capital has been consolidating its operation in the US through its wealth management, mutli family office, asset management and capital markets activities.

For this, we have strengthened and expanded our teams in Credicorp Capital US. Additionally, we have increased our product and service offering, so that we have a very competitive value proposition in each of the segments and businesses we manage vis-à-vis the competition.

Additionally, we have made careful investments in technology that allows us to improve our clients’ experience. We recently launched a very powerful portfolio management tool for wealth management clients, in line with our conviction and commitment to 360° advisory.

We appreciate the need to have a robust platform in the USA and that is why it has become one of our strategic priorities at Credicorp Capital. We thank our clients for choosing us and for having stuck with us during the growth period we have had in the USA. This only strengthens our commitment to continuing to work every day to bring the best experience to our clients in the USA.

What qualities do you value most in an external legal advisor?

When working with external legal advisors, there are several aspects we value. Of course, their legal expertise and knowledge of the industry and specific regulations are key, but so too is their level of responsiveness and involvement in the matter they are assisting us with. We really appreciate when our advisors get involved in our business and give us input beyond legal matters. Finally, transparency in billing and costs is also crucial.  

We usually bring in external help on any acquisition or deal that is  time consuming and requires a larger team, in addition to cases that require special expertise, such as labor, litigation, intellectual property or tax. However, we also seek advice and dialogue with external advisors on a regular basis in order to enhance our  expertise, learn about market practices and deal with regulators.