‘Scorched Earth’ Argentina Is LarrainVial's Next Target
- Chilean firm has applied for a brokerage license in the nation
- Firm aims to gain from $117 billion funds declared in amnesty
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LarrainVial, Chile’s largest securities brokerage firm, is looking to open an office in Argentina as soon as this year on optimism President Mauricio Macri’s administration will continue to resuscitate the country’s moribund capitals market.
After more than a decade of exchange controls and isolation from global capital markets, the government has opened the nation to foreign investors again and used amnesty to lead Argentines to declare $117 billion in funds. LarrainVial is looking to help channel some of those funds into investments, said Fernando Larrain, the company’s chief executive officer.