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To get an idea of just how vibrant Miami's international banking community is--and how important its links to Latin America--one need only to have walked among the exhibits of August's banking technology conference. More than 70 companies from nations as diverse as India and Switzerland came to downtown Miami's Inter-Continental Hotel for the conference, which was organized by the Latin American Banking Federation and the Florida International Bankers Association (FIBA). There they touted their services in English, Spanish and Portuguese to bankers from Peru, Colombia, Argentina, Brazil and other Latin American nations: software to help manage cash accounts, payments, leasing, etc. "Miami is the ideal place for such an exhibition in the sense that you have a great number of technology providers here in the US, and a great number [of banks] in Latin America that aspire to be leaders," says Pat Roth, executive director of FIBA. "There were 1,400 room nights taken [at local hotels] for this event, despite the economic situation. Miami is just the ideal place for everybody to come together." Indeed, Miami is home to more international financial institutions than any US city outside of New York. And while the names come from around the world, from nations as diverse as England, Germany, Israel and South Africa, all are here because of the Miami's connection to Latin America. In total, there are some 64 international banking offices in the State of Florida, virtually all of them located in Greater Miami--mostly in the heart of Miami's Brickell Avenue financial district. Those 64 offices are made up of agency offices (37), representative and administrative offices (16), Edge Act corporations (10) and one (1) foreign branch. More than two dozen nations are represented in that mix. Altogether, they hold some US$26 billion in assets. Greater Miami also has more than a dozen foreign-owned domestic banks, such as Venezuelan-owned Commercebank, with nearly US$2 billion in assets. Much of the international banking activity in Miami revolves around the financing of trade through the state of Florida, which last year reached US$71 billion--$54 billion of it through the Miami customs district alone. "Our share of trade finance with Latin America makes us either one or two in the country," says David Konfino, president of Union Planters International Bank, and last year's president of FIBA. "We have the finest trade finance capability for Latin America in the country We cover every single market--all the countries in South America, Central America and the Caribbean--and we have the broadest range of products, from Exim [Bank] to private insurance programs, to traditional trade finance programs like letters of credit." While large syndicated transactions in the US$200 million to US$400 million range are more typically handled by New York's merchant banks, says Konfino, US$100 million trade finance deals are not uncommon for Miami. "We have a tremendous depth of knowledge of trade finance, north-south," says FIBA's Roth. "No one can hold a candle to it." Miami's banking prowess is also apparent in the world of private banking, now referred to as wealth management. Institutions such as Spain's Banco Bilbao Vizcaya Argentaria, Florida's SunTrust, Switzerland's UBS AG, and Citibank International, along with a dozen others, have established their Latin American private banking operations in Miami.

"I clearly think Miami is the gateway," says Fred Assari, regional vice president for Neuberger Bermen's private asset management in Miami. "It's a matter of practicality. I think people tend to bank in place where they travel. Latin Americans tend to travel here, they have homes here, and this is the place that's the first stop." The banking links with Latin America are also derived not just from trade and private wealth, but also from active business investments in the US. "In addition to the difficulties going on in some of the countries in South America, many entrepreneurs are looking to invest here, and are looking at running businesses here," says Scott Wyeman, senior vice president for SunTrust's international private banking group. "I'm not the head of chamber of commerce but I think you can see there is tremendous interest in making investments here and certainly we've seen that with our clientele." Many international bankers, especially those from Latin American banks, report the same observations. "In the last few months at least three Chilean multinationals have settled here, primarily to handle their trade with the US and Europe," says Fernando Capablanca, CEO of the Miami agency of Chile's Banco de Credito e Inversiones. "You know, the largest single foreign investment in Miami is from LanChile, their US$65 million [cargo] facility at the airport. Eventually, what happens is that you have a lot of banks following these companies, because these are the banks' customers. When you get a few of them, you get a synergy." As for the future--and despite the addition of three new Spanish banking agencies this year-predictions are that the industry will continue to consolidate. Nonetheless, "high-level decision-making about Latin America will continue to take place in Miami," says Bowman Brown, whose law firm Shutts & Bowen represents many of the European banks here to serve a Latin client base.
This article tells alot about the conferenceheld at miami and the important role it plays for latin s bussiness link.miami is not exactly what we know as the place to find leisure but it is a place where people do bussiness.it s stated that more than 70 companies from nations came to downtown for Miami's Inter-Continental Hotel for the conference.the stability of Miami as the international banking community is supported by a few CEO from huge companies.in conclusion Miami is a place that international banking held their event because there alot of companies operated there.

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