ThinkForex forges ahead with Latin American office in Chile, hires former Swissquote and Admiral Markets senior exec Sebastian Rivas to run it
It’s a region which consists of one and a half continents. All of the countries in the entire region with the exception of one speak only one language. Very few FX companies have established anything that resembles a dominant presence there. Despite the vast expanses of untapped markets, and a young population with a desire to be self-sufficient […]
It’s a region which consists of one and a half continents. All of the countries in the entire region with the exception of one speak only one language. Very few FX companies have established anything that resembles a dominant presence there.
Despite the vast expanses of untapped markets, and a young population with a desire to be self-sufficient without having to rely on the notoriously difficult home-market structure, a tool for which FX would be ideal, Latin America is still a land of opportunity within which the opportunities have not been fully sought.
British FX, spread betting and CFD company ThinkForex is one of the more forward thinking companies among London’s establishment, and is forging ahead with its entry into the Latin American market, having hired Sebastian Rivas as Ibero-America Regional Manager who will set up and run the operations.
Mr. Rivas, who hails from Montevideo, Uruguay, is a very experienced industry professional who has spent over 15 years in the institutional and retail financial sector, with the last 8 years having been within senior executive positions within two very highly regarded FX companies.
Joining ThinkForex from Admiral Markets, where he was CEO of Admiral Markets Uruguay between May 2012 until now, Mr. Rivas had become well versed in operating CFD and FX business in Latin America. Prior to joining Admiral Markets, Mr. Rivas was Managing Director of Montevideo Group, a company which provided portfolio management to private clients and commercially developed FX and CFDs for the Latin American market.
In 2008, Mr. Rivas joined Swissquote as a Senior Account Officer in Montevideo, representing his foray into the non-bank FX industry having joined the company from Banco Itau where he was a private banking executive.
Between 2003 an 2007, Mr. Rivas spent 4 years at BankBoston’s private banking unit, a role that was preceded by 3 years at Citibank as a Risk Management executive.
The Latin American market is considered as a devolping region by many FX industry professionals, and FinanceFeeds can deduce that this is a correct assessment. When considering that the majority of firms wishing to enter the region and gain presence as well as a loyal customer base need to invest in educating potential customers and maintaining personal relationships to a far higher degree than in established markets, the establishment of an office headed by an executive with experience in taking established companies into Latin America is vital.
Certain nations within the region have begun to show signs of flourishing, one being Mexico, which has close relations with parts of North America such as Miami and therefore there is a booming economy in a country which is ever attempting to emulate the US.
Chile, whilst small and quiet, is the least corrupt and most civilized in terms of business environment of all of the nations in the region, and is the choice of location for ThinkForex’s office.
The combination of Mr. Rivas’ experience and knowledge of taking international companies and products into local markets and ThinkForex’s initiatives to grow its business, this is likely to represent another step toward Latin America’s place on the world FX map.