What can Mexico do to address the problem of pensionsBy Elliot Bullman
The CFA Institute wishes to collaborate given its experience, said John L. Bowman, Managing director for the Americas.
Diversifying the Afores investment portfolios to raise returns and increase savings for retirement is one of Mexico's most critical priorities to improve its pension system.
"We can help the authorities in the design of the road map that leads to a better system. We believe this will not be before the 2018 elections but we hope it will be a priority for the new administration because this is urgent," John L. Bowman, Managing director for the Americas warned in an interview.
Bowman stressed that the most recognized institute in global finance and asset management, wants to collaborate with Mexican authorities to work on its reform, which is urgent, he said.
Last week, the CFA Institute announced a collaboration agreement with the Mexican Association of Stock Brokers (AMIB) to raise the level of professionalism of the participants in the national financial markets.
The agreement with the AMIB was the second step in the process of deepening its relationship with Mexico, first when in June 2015 it signed a collaboration agreement with Banco de México and the National Commission for the Retirement Savings System (Consar). The next will be to reach agreements with private banks, asset management firms, among others, said the manager.
A CFA certification is valuable internationally as it means the highest level of education among the professionals in asset management and finance. Currently in Mexico are 300 financial professionals members of the institute, who have the CFA Institute badge and with this alliance hope to accelerate growth to one thousand members in the next five years.
“Global financial organizations are looking for professionals with certification and in addition to the one that has it opens the doors to any market in the world, the country is rewarded in the development of its financial markets to attract more investment," said Bowman.
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