BBVA Bancomer Asset Management adopts CFA Institute Asset Manager Code
Mexico’s largest banking institution is latest global firm to pledge ethical behavior to shape a more trustworthy financial industry. BBVA Bancomer Asset Management is the first administrator of investment funds in Mexico to adopt the Asset Manager Code.
New York City, United States 21 Feb 2018
CFA Institute, the global association of investment professionals that sets the standard for professional excellence, has added BBVA Bancomer Asset Management to the growing list of investment firms that claim compliance with its Asset Manager Code. BBVA Bancomer Asset Management is now one of the more than 1,400 companies around the world that claim compliance with the code.
The Asset Manager Code clearly outlines the ethical and professional responsibilities of firms that manage assets on behalf of their clients. For investors, the code provides a benchmark for the behavior that should be expected from asset managers and offers a higher level of confidence in the firms that adopt the code.
“Investors should expect and receive the highest level of professional conduct in the firms and individuals with whom they entrust their investments” said Jaime Lázaro, CFA, director of BBVA Bancomer Asset Management. “BBVA Bancomer once again shows its leadership in the Mexican financial system and the adoption of the Asset Manager Code reinforces our commitment to make the customer our priority in every decision."
The Asset Manager Code is grounded in the ethical principles of CFA Institute and the CFA® Program, and requires that managers commit to the following professional standards:
To act in a professional and ethical manner at all times
To act for the benefit of clients
To act with independence and objectivity
To act with skill, competence, and diligence
To communicate with clients in a timely and accurate manner
To uphold the rules governing capital markets
"Building trust in the investment profession is central to the CFA Institute mission, and to strengthen and ensure the future vitality of the global financial system,” said Bjorn Forfang, deputy CEO at CFA Institute. “We applaud BBVA Bancomer Asset Management, and all firms that have adopted the code, for displaying a resolute and tangible commitment to professional ethics and helping to build a better world for investors."
BBVA Bancomer Asset Management is the largest asset management firm in Mexico, and the first asset manager and second company after Tempest Capital to adopt the CFA Institute Asset Manager Code in Mexico. BBVA Bancomer Asset Management joins more than 1,400 other firms around the world claiming compliance with the Code. (View the full list.)
BBVA Bancomer Asset Management
BBVA Bancomer is the leading institution in Mexico in terms of portfolio and deposits. Its business model is based on the client as the center of business and leveraged in continuous innovation, as well as in the best technology, allows it to offer banking services to 18.9 million customers. In order to offer a better customer service, it has the broadest banking infrastructure in the system made up of 1,845 branches, 11,519 ATMs and 172,042 points-of-sale terminal. The continuous investment in alternative channels to the branch has allowed to give fast, easy and safe access to financial services through digital banking to 4.9 million customers. Additionally, through banking correspondents, the hours and points of sale have been increased in more than 33,100 stores and associated stores. For its part, Corporate Social Responsibility is a constant in the banking business and through the BBVA Bancomer Foundation, education, culture and environmental care are promoted.
CFA Institute is the global association of investment professionals that sets the standard for professional excellence and credentials. The organization is a champion of ethical behavior in investment markets and a respected source of knowledge in the global financial community. Our aim is to create an environment where investors’ interests come first, markets function at their best, and economies grow. There are more than 150,000 CFA® charterholders worldwide in 165+ countries and regions. CFA Institute has eight offices worldwide and there are 151 local member societies. For more information, visit www.cfainstitute.org or follow us on Twitter at @CFAInstitute and on Facebook.com/CFAInstitute.