SWIFT Opens Office in Mexico City

SWIFT announced the opening its new office in Mexico City Tuesday. The expansion supports the growth of the financial messaging provider’s Latin American operations, allowing customers in the region to gain access to sales and technical support.

SWIFT is strengthening its presence in Mexico in response to the sustained growth and development of the nation’s economy and to help the industry respond to developments related to financial reform, such as regulatory compliance. The use of SWIFT in Mexico is growing notably, with financial messaging increasing by 15% in 2013, and similar growth expected for 2014.

“The opening of the new office is a significant milestone for our Latin American business,” said Chris Church, chief executive, Americas, SWIFT. “We now have a stronger physical presence in the region to support our strategic initiatives and to meet the growing needs of our customers and the industry. Latin America is an important region for us and our presence in Mexico City underlines SWIFT‘s confidence in this fast-developing market.”

Ruben Galindo, director, sales services for Mexico at SWIFT will run the Mexico City office, reporting into Jairo Namur, Regional Manager, Latin America at SWIFT. Ruben joined SWIFT in May 2014 and previously was regional product head for Latin America at HSBC.

To coincide with the opening of the new office, SWIFT is holding its annual Latin America Regional Conference (LARC) in Mexico City on 28 and 29 May. The theme of this year’s event focuses on “Unleashing the Power of Collaboration,” and places a particular emphasis on market trends and other relevant topics such as regulation, compliance and the vision of the company, among other topical issues.

Additionally, on 30 May 2014, SWIFT will participate in the opening bell ceremony at the Mexican Stock Exchange (BMV), courtesy of Indeval, Mexico’s Central Securities Depository.

”The efforts made by SWIFT in recent years to standardise the messages related to the operation of securities settlement systems worldwide have supported the remarkable growth that BMV Group has experienced in cross-border transactions,” said Gerardo Gamboa, CEO, Indeval, CCV, Asigna, Valmer & InterGloval. “Two of its subsidiaries, S.D. Indeval and InterGloval BMV, use SWIFT’s messaging and communication channels to operate worldwide and rely on international standards, making the Mexican market interoperable with European CSDs.”

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