LarrainVial Gets Colombian Authorization

LarrainVial has received authorization to operate as a broker in Colombia. The Chilean specialist investment bank has had an office in Colombia for several years, from which it distributes third-party funds, says a person familiar with the company’s plans. This move comes as part of its plan to become more of a regional player, and keep up with the other Andean banks that are doing so as the MILA platform integrates the equity markets in Peru, Colombia and Chile. Fellow Chilean Celfin is now controlled by Brazil’s BTG, which also controls Colombia’s Bolsa y Renta, and IMTrust has expanded regional ties through the sale of a controlling stake to Peru’s Credicorp.