How Miami’s traditional banks cultivate their global clientele

Banking Beyond Borders

Is Miami the banking capital of Latin America? “I’ve been saying that for 20 years,” says A. Alfonso Macedo, president and CEO of Miami-based Ocean Bank. “New York attracts ultra-high-net-worth individuals,” he allows, “but we understand their culture, how they think, their challenges. I believe they feel more comfortable banking with us. I’ve heard that over and over from our clients.”

As David Schwartz, president and CEO of the Financial and International Business Association (FIBA), points out, servicing foreign clients requires a level of expertise beyond what a bank needs for successfully dealing with domestic clients.

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