The 50-50 joint venture with Mexico City-based Administradora Akaan has received approval from the Mexican Banking and Securities Commission (CNVB) and will be called Akaan Transamerica.
The new asset manager will offer a variety of Mexican and international mutual funds, as well as diversified global investment solutions. Its product offering includes alternative investments, actively- and passively-managed funds and bespoke investment strategies.
In addition to investment products, Akaan Transamerica will offer integrated investment solutions for individuals and companies.
The strategic partnership with Transamerica comes just over four months after Akaan agreed to set up a joint venture life company with Lombard International.
American clout
Mark Mullin, president and chief executive of Transamerica, said: “We are thrilled to form this partnership with the highly respected firm of Akaan and to benefit from the tremendous expertise of Fernando Quiroz.”
Akaan founder and chairman Quiroz was previously chief executive and vice chairman of Citigroup’s Institutional Clients Group (ICG) for Mexico and Latin America and vice chairman of the board of directors for Banco de Chile.
Mullin added: “We are determined to help individuals and corporations in Mexico pursue wealth accumulation and growth as they work toward securing a sound financial future.”
Quiroz said: “Our teams worked extremely hard to set up a new asset management company, with a state-of-the-art technological platform and the most innovative financial solutions for our clients.”
