Quito –
He South Atlantis Group It will begin operations on July 1 in Ecuador, both in the securities market, investment funds and trusts, corporate finance and financial technology. This was announced by managers in a virtual launch on Wednesday night.
Sur Atlántida is part of the Central American holding Grupo Financiero Atlántida, which has a 107-year track record in banking, insurance, pension and severance, leasing, storage, brokerage houses, outsourcing services, and computer services.
In Ecuador and Peru Grupo Sur Atlántida will operate under the names Atlántida Casa de Valores, Fiduciaria Atlántida, Atlántida Advisors and Atlántida Inteligencia de Mercados (Reditum).
The Central American holding’s interest in the South American market began in 2018 through its majority shareholder Inversiones Atlántida (Invatlan). In September 2019, after extensive studies and analysis, he signed a purchase agreement for a majority position of the Ecuadorian companies Actions and Values Casa de Valores (Accival SA); Fiduciaria de las Américas Fiduaméricas Administradora de Fondos y Fideicomisos SA; Consultant Southern Cross Capital Markets SCCMARKETS SA and the company Infostatistica Cía. Ltda.
In the first quarter of 2020, the different control agencies of Ecuador, such as the Market Power Control Superintendence and the Superintendency of Companies, Securities and Insurance, granted Invatlan the necessary authorizations to proceed with the purchase operation.
Francisco Dávila, mayor of concentrations and investigation commented that this entity authorized the entry of this important actor in the Ecuadorian market last December. The superintendency must carry out this process when an actor occupies more than 30% of the market. In this case, one of the companies that acquired the Sur Atlántida Group, Accival, exceeded that percentage in the Ecuadorian market.
Despite the pandemic that has affected all countries, the Group’s strength allows it to open its doors in Ecuador to all entrepreneurs seeking a solid and reliable financial alternative. The Atlántida financial group manages third-party assets for more than $ 12.6 billion; It also manages its own assets for $ 4.8 billion. (I)
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