Barclays steps into Mexican ABS, MBS

Published September 18, 2006 12:00 AM EDT 2 Min Read

Yet another bank has heeded the call of Mexico’s thriving domestic market. Barclays Capital just launched Grupo Financiero Barclays Mexico, consisting of a bank and a broker-dealer. Hailing from ABN Amro Securities, Antonio Villa has been appointed head of the broker-dealer, Barclays Capital Casa de Bolsa. He will be working with Guillermo Valle, who had previously been rating real estate securitizations for Standard & Poor’s, in drumming up deal business.

Securitization was clearly one of main draws for the international bank. “The priority is to focus on RMBS and other structured transactions,” Villa said. The bank will leverage the experience of Barclay’s RMBS team in New York, and is looking into both domestic and cross-border issuance, he added. Villa predicted that an estimated $1.5 billion of RMBS for 2006 will nearly double next year. While RMBS is becoming a hypercompetitive marketplace in Mexico, with the likes of Deutsche Bank, ING, Citigroup unit Acciones y Valores, and Credit Suisse having dug in their heels already, Barclays will also be working on more underserved areas like CMBS, an area that has witnessed scant activity so far in the public arena of structured finance.

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