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Argentina Brokerage Seeks Partner Ahead of Sector Consolidation

  • TPCG pursues foreign alliance as investment flows return
  • ‘The right time to grow’ says co-founder Ileana Aiello
Cars drive down Avenida 9 de Julio in Buenos Aires, Argentina.
Photographer: Victor J. Blue/Bloomberg

Argentine brokerage TPCG Group is looking to form a strategic alliance with a foreign partner in anticipation of industry consolidation as international funds flow back into the Latin American nation.

Buenos Aires-based TPCG sees the current brokerage houses, which number around 180, being cut down to about 10 as Argentina re-opens to foreign investment, according to co-founder and managing director Ileana Aiello. This comes after more than a decade of exchange controls, state interventionism and isolation from global capital markets.