BANK CARDS Security Features of Paper Travelers Cheques and Add the WORLDWIDE Benefit of ATM Access

Total Page:16

File Type:pdf, Size:1020Kb

BANK CARDS Security Features of Paper Travelers Cheques and Add the WORLDWIDE Benefit of ATM Access ISSUE #824 DECEMBER 2004 FOR 34 YEARS, THE LEADING PUBLICATION COVERING CONSUMER PAYMENT SYSTEMS WORLDWIDE TOP BANK CARD ISSUERS WORLDWIDE – 2003 The top 100 issuers of Visa and MasterCard credit, debit, and prepaid cards worldwide, based on total volume of purchases of goods and services and cash advances/with- drawals, are shown in the table on page 10. The figures are for calendar year 2003 as reported to Visa and MasterCard. Tables on pages 8 and 9 list the 50 largest countries based on volume in U.S. dollars of the following: purchases and cash generated by all cards issued within each country, vol- ume of purchases and cash in U.S. dollars on a per card basis for each brand in each country, the … (turn to page 6) AMEX PREPAID CARDS OUTSIDE THE U.S. The new name for the TravelFunds card product Amex launched a year ago is Travelers Cheque Card. The cards combine the BANK CARDS security features of paper travelers cheques and add the WORLDWIDE benefit of ATM access. They are not linked … (turn to page 3) TOTAL PURCHASE VOLUME VOLUME CHECK CASHING KIOSK The CashWorks subsidiary $4.312 $2.783 of GE Consumer Finance has been providing check cashing 1 trillion trillion services for 2 ⁄2 years using special software in POS termi- nals at 3,000 U.S. locations. Now the company plans to United States deploy an ATM-like, self-service kiosk to … (turn to page 3) TOTAL VOL. PURCHASE VOL. 40.4% 47.9% PURPLE CREDIT CARD IN THE U.K. Coutts & Co., a Europe private bank in the U.K. owned by the Royal Bank of TOTAL VOL. PURCHASE VOL. Scotland, has started the select marketing of a 30-day credit 30.3% 30.4% card to its upscale clients. Those clients must have at least £500,000 ($964,000) in liquid assets or … (turn to page 8) Asia/Pacific TOTAL VOL. PURCHASE VOL. COMPUCREDIT SUBPRIME CARDS The sixteenth 18.5% 13.7% largest bank credit card issuer in the United States, a spe- Latin America cialist in the subprime customer market, managed 2.4 mil- TOTAL VOL. PURCHASE VOL. lion accounts on file as of September 30 of this year. 5.4% 2.5% CompuCredit, a specialty finance company … (turn to page 8) Canada PAYMENT CARD MANUFACTURING – 2003 TOTAL VOL. PURCHASE VOL. Companies that manufacture high-security cards, as well as 3.0% 4.1% nonsecure cards used to initiate purchases of goods and Middle East/Africa services, shipped 4.38 billion units in 2003 — up 11.8% from TOTAL VOL. PURCHASE VOL. 3.92 billion in the prior year. … (turn to page 4) 2.4% 1.5% INSIDE: Fast Facts–2 M.POS Mobile Terminal–2 © HSN Consultants Inc. 2004 THE NILSON REPORT Reproducing or allowing reproduction or dissemination of any portion of this newsletter in any manner for any purpose is a copyright violation subject to substantial fines. Yearly Subscription: 23 issues—$995 Worldwide. ISSN 1087-8718 THE NILSON REPORT: 1110 Eugenia Place, Suite 100, Carpinteria, CA 93013 USA • PHONE (805) 684-8800 • FAX (805) 684-8825 • [email protected] FAST FACTS FAST FACTS FAST FACTS FAST FACTS FAST FACTS FAST FACTS FAST FA EXPERIAN’S new DecisionOne Web-based credit-decision HYPERCOM’S HBNet network for dial and IP terminals and account-management software for medium to large supports all card payment protocols and formats businesses was developed with LiveCapital, specialists in communication at up to v.92 speeds. SiVault Systems, credit-management software. Mark Zablan is Pres. Business which sells storage and retrieval systems for signed docu- Information Solutions at Experian, (714) 830-5578, ments and biometric signature-based authentication, will [email protected]. Mike Grossman is CEO at resell HBNet to its clients. Emilian Elefteratos is CEO at LiveCapital, (650) 350-3601, [email protected]. SiVault, (408) 321-5100, [email protected]. Sharon Cline is GM at HBNet, (602) 504-5848, [email protected]. GLOBAL PAYMENTS, a top provider of electronic transaction processing services in the U.S., Canada, and MERCANTEC, with 70,000 Web site host and online store- Eastern Europe, has renewed its $175-million (Canadian) front installations for small and medium-sized businesses, revolving credit facility agreement ($146 million U.S.). Jeff has been certified by Authorize.Net’s shopping cart pro- Baker is SVP Strategic Planning & Treasury, (770) 829- gram and now links directly to that company’s payment 8225, [email protected]. gateway to handle card transactions. Bill Tait is CEO at Mercantec, (630) 305-3200 x2116, [email protected]. INFICORP, a subsidiary of First Nat’l of Omaha, will acquire Roy Banks is Pres. at Authorize.Net, (801) 492-6521, Cornerstone Credit Union’s $2.3-million credit card [email protected]. portfolio. Timothy Kolk of Brookwood Capital was the broker, (603) 924-7215, [email protected]. Keith SHOPPER’S CHARGE ACCOUNTS, a division of Hudson Floen is Managing Director at InfiCorp, (404) 965-6040, United Bank, has acquired 49,000 private label card [email protected]. accounts from Marvin’s Building Materials and Home Center. R.K. Hammer was the broker. Hammer has brokered POINTS INTERNATIONAL has signed an agreement with over 800,000 card accounts this year. Robert Hammer is Delta Air Lines SkyMiles, to let its members transfer miles at CEO at RK Hammer, (805) 499-8548, [email protected]. delta.com/transfermiles. Rob MacLean is CEO at Points Ed Fechner is SVP at SCA, (201) 818-4000 x3026, Int'l, (416) 596-6390, [email protected]. Christine [email protected]. Pierce is Director of Partnership Marketing at Delta, (404) 715-9401, [email protected]. MONERIS SOLUTIONS, a top acquirer of payment card transactions, has partnered with SurePayroll, to offer that WHOLESALE PAYMENT SOLUTIONS is the new name for company’s online payroll processing service. Michael Alter is Wholesale Processing Consultants. WPS is an ISO based in Pres. at SurePayroll, (847) 676-8420 x7229, Riverside, California. Adam Pflaumer is President, [email protected]. Patrick Albright is SVP at (951) 781-0853, [email protected]. Moneris, (847) 520-6424, [email protected]. FAST FACTS FAST FACTS FAST FACTS FAST FACTS FAST FACTS FAST FACTS FAST M.POS MOBILE TERMINAL Hong Kong-based M.POS provides mobile-commerce services and terminals to customers in banking, telecommunications, and other industries. Its flagship product, the M.POS2002 point-of-sale terminal shown, here is a high-security, wire- less device with a matching cradle capable of providing sync/async landline communications. The device comes with two batteries. One stays in the cradle and continues to charge while the other is in use in the handset. The M.POS2002 communicates using TCP/IP protocol via public wireless networks including GSM, GPRS, or CDMA. EMV Level 1 & 2 certification has been awarded. Optional nonpayment applications include the sale of prepaid vouchers (which can be stored in a tamperproof space in the device), processing of loyalty transactions, inventory control, Web browsing, text messaging (sending, receiving, and printing out text messages), and the ability to make voice calls. M.POS shipped 10,000 terminals this year, up 27% over calendar year 2003. Terminals are distributed directly by M.POS in Hong Kong and on the mainland of China. The company sells through distributors in all other markets. Alice Cheng is Marketing Manager at M.POS International Limited in Hong Kong, (852) 2116-6125, [email protected]. ᔢ THE NILSON REPORT NUMBER 824 • DECEMBER 2004 - 2 - Amex (from page 1) … to a bank account. Their advantage over credit cards is that consumers load them with a specific amount budgeted for a particular trip. The rebrand- ed Travelers Cheque Card was recently launched in Germany. According to the Deustche Bundesbank, travelers from that country spend over $55 billion annually and 55% of that amount is in cash. The reloadable cheque cards can carry up to 2,500 euros ($3,250). Reloads can be made by phone or Internet (www.americanexpress.de/tcc). Funds can be denominated in euros, U.S. dollars, or British pounds. Currently, cheque cards are available from all large travel agency chains in Germany, as well as from Lufthansa, Europe’s third largest airline. Travelers Cheque Cards also entitle cardholders to American Express’s 24-hour customer service which helps replace lost or stolen pass- ports or identity cards, trace lost luggage, and cancel lost or stolen debit or credit cards, even those not issued by American Express. Stefan Happ is VP Europe, Travelers Cheques and Prepaid Services at American Express in London, 44 (207) 824-6151, [email protected]. American Express recently launched its first prepaid gift card outside the U.S. Amex chose the city of Fukuoka on Japan’s southern island of Kyushu to test the card. The gifts market in Japan is estimated at $63 billion annually and the average size of a gift is said to be $85. The new American Express Gift Card is accepted for payment at retailers and restaurants that accept American Express cards in Japan. YC Koh is VP & General Manager, Japan, Asia Pacific, Australia at American Express in Singapore, (65) 6880-1688, [email protected]. Prior issues: 823, 820 ᔢ Kiosk (from page 1) … provide check cashing and other financial services to unbanked and underbanked consumers. The CashWorks kiosk for high-traffic retail locations will not dispense cash — although it can be configured to accept cash from consumers making payments of utility bills and other recurring pay- ments. Instead, the kiosk will authorize payroll, government, and other checks, and then immediately place the monetary value of the check onto a prepaid debit card account held at GE Capital Consumer Card Co., a federal savings bank in Ohio.
Recommended publications
  • 2011 ANNUAL REPORT Contents
    AGILE KORDSA GLOBAL IN HIGH VALUE BUSINESSES FOR SUSTAINABLE GROWTH 2011 ANNUAL REPORT CONTENTS Introduction 2 2011 Developments 4 Global Footprint of Kordsa Global 6 Key Financials 10 Hacı Ömer Sabancı Holding 12 Milestones 14 Kordsa Global’s Strategy House 16 What Does Kordsa Global Manufacture? Management 18 Message of the Chairman 20 Board of Directors 22 Message of the President and CEO 24 Senior Management 2011 Activities 26 Financial Activities 28 2011 World Market and Kordsa Global Activities 30 Products 32 Marketing 36 Research and Development Sustainability 38 Human Resources 40 Safety, Health and Environment 42 Code of Business Ethics 43 Environmental Practices Corporate Governance 44 Corporate Governance Principles Compliance Report 49 Audit Committee Members and Working Principles 50 Agenda of the General Assembly 51 Profit Share Distribution Chart Financial Statements 53 Consolidated Financial Statements and Independent Auditor’s Report 148 2011 Statutory Audit Report Directory Kordsa Global A world leader in nylon and polyester yarn, cord fabric and single end cord production, Kordsa Global serves the tire reinforcement and mechanical rubber markets with its wide product range. Kordsa Global is the world leader in tire cord fabric materials with its flexible and yet powerful production structure, high product and service quality, ongoing long term customer relationships and a multitude of business partners. The origin of the Company can be traced back to the cord fabric production facility established in Izmit in 1973. Kordsa Global continues to expand its field of services by increasing its product range in line with effective R&D investments designed to respond to customer needs.
    [Show full text]
  • Descargar En
    El Primer Banco Plan de Marketing Comunicacional para llevar a Banco Galicia al mundo millennial Daniel Sebastián Belas Galante 0110665 Lic. en Negocios de Diseño y Comunicación Proyecto Profesional Empresas y Marcas 22 de julio de 2020 1 Índice Introducción 04 Capítulo 1. Marketing, comunicación y nuevas tendencias 10 1.1. Marketing comunicacional: definición y alcance 10 1.2. Plan de marketing 11 1.2.1. Segmentación de mercado 13 1.2.2. Posicionamiento 15 1.2.3. Promoción 17 1.3. Métodos de análisis 22 1.4. El marketing moderno: prosumidor y emociones 26 Capítulo 2. Banca argentina: ABC del negocio, rol social e imagen 30 2.1. Cómo funciona el sistema bancario 30 2.2. La transformación 3.0 de las entidades tradicionales 33 2.3. Responsabilidad Social Empresarial 36 2.4. Inclusión financiera 38 2.4.1. Cómo se mide 41 2.4.2. El rol del Estado y los bancos 42 2.5. Identidad corporativa 44 Capítulo 3. Universo millennial: macrotendencias y redes sociales 47 3.1. Quiénes son y qué buscan 47 3.2. Perfil consumidor y sustentable 51 3.3. Redes sociales 54 3.3.1. Facebook 56 3.3.2. Twitter 57 3.3.3. Instagram 59 3.4. Marcas en la red 60 3.5. Los influencers 62 Capítulo 4. Banco Galicia y las nuevas generaciones 65 4.1. Hitos de la empresa 65 4.2. Cultura organizacional 67 4.3. Imagen de marca 70 4.4. Sustentabilidad 72 4.5. Caso de negocio 74 4.5.1. Análisis FODA 75 4.5.2.
    [Show full text]
  • Citigroup Spreads Generosity Around the Globe
    INTERNATIONAL January-March 2002 Citigroup spreads generosity around the globe ne company is helping JAI embracing JAI’s programs on four A good example of one keep the word “Interna- continents and in 37 countries. of these new programs that Otional” behind its name. The Foundation, funded by Citi- has garnered accolades From Argentina to Zimbabwe and group businesses that include from students and teachers from Tokyo to Toronto, the com- Citibank, CitiFinancial, Primerica, in numerous countries is pany is leaving a vast imprint on Salomon Smith Barney and Travel- Banks in Action (BIA). It the globe. In the wake of that ers, is approaching the US$2 mil- helps students understand for short and long terms imprint are literally millions of lion* mark in contributions to JAI. the basic elements of banking. • decide how much to spend on young people who now face a Citigroup’s funds permeate In BIA, students learn to: marketing to attract savers and better future. all facets of JAI - not only help- • attract deposits and loan them borrowers to the bank The company is Citigroup and ing sustain existing programs, to borrowers • decide how much to spend on its contributions are helping JAI but also starting new ones in • set interest rates on the funds continued on page 2 encircle the Earth with economic countries that desperately need education and hope for brighter the kind of help JAI gives with tomorrows. programs that fit specific com- The Citigroup Foundation is munity needs. *NOTE:Actual Foundation support since 1996 is $1.85 million Citigroup’s Worldwide Support Argentina Germany Panama Tanzania Belgium Greece Paraguay Tu r key Brazil Guatemala Philippines Ukraine Canada Hungary Poland United Chile Ireland Romania Kingdom Colombia Italy Russia United States Costa Rica Japan Slovakia Uruguay Cote d’Ivoire Kazahstan South Africa Venezuela Czech Republic Kenya Spain Ecuador Nigeria Sri Lanka Colegio Tecnico Profesional de Heredia team members were joined by supporters and JAI officials following awards ceremonies.
    [Show full text]
  • 202012 Informe De Disciplina De Mercado
    Documento de disciplina de mercado Diciembre 2020 ÍNDICE ÍNDICE ............................................................................................................................................................. 0 1. ÁMBITO DE APLICACIÓN.......................................................................................................................... 2 2. RESUMEN DE LA GESTIÓN DE RIESGOS, PARÁMETROS PRUDENCIALES CLAVE Y APR .............................. 4 FORMULARIO KM1 – PARÁMETROS CLAVE (A NIVEL DEL GRUPO CONSOLIDADO ) ....................................................................... 4 TABLA OVA: MÉTODO DE LA ENTIDAD PARA LA GESTIÓN DE RIESGOS ...................................................................................... 4 FORMULARIO OV1: PRESENTACIÓN DE LOS ACTIVOS PONDERADOS POR RIESGO (APR) ........................................................... 11 3. VÍNCULOS ENTRE ESTADOS FINANCIEROS Y EXPOSICIONES REGULADORAS .......................................... 12 FORMULARIO LI1: DIFERENCIAS ENTRE LOS ÁMBITOS DE CONSOLIDACIÓN CONTABLE Y REGULADOR Y CORRESPONDENCIA ENTRE ESTADOS FINANCIEROS Y CATEGORÍAS DE RIESGO REGULADORAS .......................................................................................... 12 4. COMPOSICIÓN DEL CAPITAL Y TLAC....................................................................................................... 13 FORMULARIO CC1: COMPOSICIÓN DEL CAPITAL REGULADOR .............................................................................................. 13 FORMULARIO
    [Show full text]
  • MEMORIA ANUAL 2015 Citibank Del Perú S.A
    MEMORIA ANUAL 2015 Citibank del Perú S.A. 0 1 Contenido I. Declaración de Responsabilidad ................................................................................... 1 II. Datos Generales .................................................................................................................... 3 III. Descripción de Operaciones y Desarrollo .......................................................................... 7 1. Objeto Social y CIIU ............................................................................................. 7 2. Plazo de duración ................................................................................................. 7 3. Evolución de las Operaciones ......................................... 3.1. Descripción del sector, de la competencia y posicionamiento 3.2. Monto de las ventas netas de bienes y servicios ................................................. 8 3.3. Planes o Políticas de Inversión ............................................................................ 9 3.4. Productos y servicios ......................................................................................... 10 3.4.6. Servicios de Manejo de Efectivo, Comercio Exterior y Financiamiento [TTS] ........... 16 3.4.7. Fiducia, Agencias y Custodia de Valores ........................................................... 18 3.5. Infraestructura de Servicios ............................................................................... 19 3.6. Recursos Humanos y Personal .........................................................................
    [Show full text]
  • CITIBANK N.A. Sucursal Establecida En La República Argentina
    CITIBANK N.A. Sucursal establecida en la República Argentina Estados financieros intermedios condensados por el período de tres meses finalizado el 31 de marzo de 2020 Índice ESTADO DE SITUACION FINANCIERA CONDENSADO ............................................................................................ 4 ESTADO DE RESULTADOS CONDENSADO .............................................................................................................. 6 ESTADO DE OTROS RESULTADOS INTEGRALES CONDENSADO ......................................................................... 7 ESTADO DE CAMBIOS EN EL PATRIMONIO CONDENSADO ................................................................................... 8 ESTADO DE FLUJOS DE EFECTIVO CONDENSADO .............................................................................................. 10 NOTA 1 – INFORMACIÓN GENERAL Y CONTEXTO ECONOMICO......................................................................... 12 NOTA 2 – CRITERIOS DE PREPARACIÓN DE LOS ESTADOS FINANCIEROS...................................................... 14 NOTA 3 – MONEDA FUNCIONAL Y DE PRESENTACIÓN ........................................................................................ 15 NOTA 4 – JUICIOS Y ESTIMACIONES CONTABLES ................................................................................................ 15 NOTA 5 – CAMBIOS EN POLITICAS CONTABLES SIGNIFICATIVAS ...................................................................... 15 NOTA 6 – NIIF EMITIDAS AÚN NO VIGENTES ........................................................................................................
    [Show full text]
  • Subpoena to Citibank N.A
    Subpoena To Citibank N.a Unmeant Herculie minglings very illiterately while Randall remains ruby-red and mesarch. Flag-waving and homocercal Joel tiles almost iambically, though Fons burglarises his godfathers frisks. Unappropriated Vasilis spiels gigantically, he envy his avisos very scantly. Freezing temperatures have been recorded across the bulb hot southern US state. Put the dialog at sea right edge stitch the docket report. You are nice a Citi Website and going with a third party site. Down Arrow keys to avid or rather volume. Corporate Applications Search Result Details OCC. Appendix C of the regulation includes examples illustrating the application of this definition. Set up some discovery they are you can also refers to the case, surely of enforcement agency may not offered any regulation or to subpoena citibank mean you. Sell your bruise to escape debt buyer like Unifund, Grand Duchy of Luxembourg. Then write a subpoena because both cases for the garnishment order or in specific requests such an easy mark the subpoena to citibank? Subject does the recognition th. BANIBU II HOLDINGS INC. Rio San Diego Dr. Not one that police saw it bring another witness. They won all professionalism and are currently interfering with enough criminal financial exploitation investigation. Had received a solemn from The Moore Law Group i year daughter I responded disputing their claim. Rules of station is legal order and may SLtbject you moving a penalty imposed by law in failure to comply. The shock in Gerling reached the same conclusion. Hence, Inc. Penal Law, as define above makes plain, the EIPA does not trace a private chart of action permitting an account holder to constrain a plenary action game a depository bank seeking injunctive relief fund money damages arising from a violation of the EIPA.
    [Show full text]
  • Evolution of Fintechs in Argentina Evolución De Fintechs En Argentina Evolução Dos Fintechs Na Argentina
    EVOLUTION OF FINTECHS IN ARGENTINA EVOLUCIÓN DE FINTECHS EN ARGENTINA EVOLUÇÃO DOS FINTECHS NA ARGENTINA Research results article developed at Universidad Nacional del Sur, https://www.uns.edu.ar/,Bahía Blanca. Reception date 02/04/2020. Aceptation date 16/09/2020. Marisa Analía Sánchez Doctora en Ciencias de la Computación, Profesora Titular tiempo completo en Departamento de Ciencias de la Administración, Universidad Nacional del Sur. Correo electrónico [email protected] Pamela Zalba Diplomada en Logística y Gestión de la Cadena de Suministros, Ayudante de Docencia en Departamento de Ciencias de la Administración, Universidad Nacional del Sur. Correo electrónico [email protected] Juan Zoppis Estudiante de Licenciatura en Administración, Becario del Consejo Interuniversitario Nacional en el Departamento de Ciencias de la Administración, Universidad Nacional del Sur. Correo electrónico [email protected] Cómo citar este artículo Sánchez, Marisa A.; Zalba, Pamela & Zoppis, Juan (2020). Evolution of Fintechs in Argentina. Dimensión Empresarial, 18(4). DOI: 15665/dem.v18i4.2322 Abstract The purpose of this paper is to analyze the fintech industry in Argentina. The methodology adopts an exploratory approach based on Actor-Network theory. Secondary data sources and the use of three case studies support information gathering. Results show that there are more than one hundred fintechs. Cases reveal that a key fintechs’ competitive advantage is to offer a service much more agile, simple, and in less time than a brick-and-mortar bank. Practical insights on how to interact with other actors in a business ecosystem and build on network effects to capture value are discussed. The regulatory framework is still on making what poses a major challenge for enterprises.
    [Show full text]
  • ARGENTINA NEW TRENDS and BEYOND After New Drivers of the Oil and Gas Policy
    AIPN LATIN AMERICA CHAPTER CONFERENCE JUNE 29, 2017 • BUENOS AIRES, ARGENTINA • TECHINT AUDITORIUM ARGENTINA NEW TRENDS AND BEYOND After New Drivers of the Oil and Gas Policy Following the first package of measures introduced by the new argentine administration during 2016, we are facing a new and enticing stage in terms of attracting new investments. This regional chapter conference will feature a full-day program that will focus on the new objectives that the Argentine government has just recently implemented, particularly concerning the Resolution 402 regarding the renewed gas stimulation program. Speakers, representing companies from both upstream and downstream sectors, will discuss and evaluate the current situation and give future context after the new measures introduced by the government. This event is an excellent chance for the audience to learn about current and future investment opportunities in Argentina and evaluate new opportunities, as well as network with many oil and gas colleagues and authorities in the field. Thanks to conference sponsor Association of International Petroleum Negotiators www.aipn.org PROGRAM 8:30am ‐ 9:00am Registration & Breakfast 9:00am ‐ 9:30am Welcome Address Amalia Sáenz, Partner, ZBV Abogados; AIPN Latin America Alternate Regional Chapter Director and Pablo Alliani, Partner at Alliani&Bruzzon Law Firm, AIPN Past President. 9:30am ‐ 10:15am Key Aspects of Argentina’s Oil &Gas Policy and the General Principles Daniel Gerold, Director of G&G Energy 10:15am ‐ 01:00pm Balance and Movement: Division of Powers between the Federal Government and Provinces Provincial Energy Ministers of hydrocarbons and Federal Officer will discuss the boundaries between federal and provincial powers, including sensitive topics such as taxation powers, environmental lawmaking, and the regulation of unconventional reservoirs.
    [Show full text]
  • Doing Business in Argentina: 2015 Country Commercial Guide for U.S. Companies
    Doing Business in Argentina: 2015 Country Commercial Guide for U.S. Companies INTERNATIONAL COPYRIGHT, U.S. & FOREIGN COMMERCIAL SERVICE AND U.S. DEPARTMENT OF STATE, 2015. ALL RIGHTS RESERVED OUTSIDE OF THE UNITED STATES. • Chapter 1: Doing Business In Argentina • Chapter 2: Political and Economic Environment • Chapter 3: Selling U.S. Products and Services • Chapter 4: Leading Sectors for U.S. Export and Investment • Chapter 5: Trade Regulations, Customs and Standards • Chapter 6: Investment Climate • Chapter 7: Trade and Project Financing • Chapter 8: Business Travel • Chapter 9: Contacts, Market Research and Trade Events • Chapter 10: Guide to Our Services 11/6/2015 Return to table of contents Chapter 1: Doing Business In Argentina • Market Overview • Market Challenges • Market Opportunities • Market Entry Strategy Market Overview Return to top • The U.S. exported $10.8 billion in goods to Argentina in 2014 and purchased $4.4 billion. In services, the U.S. exported $7.1 billion and Argentina sold $1.9 billion. The U.S. supplies raw materials, intermediate goods, and capital goods to feed Argentina’s industrial sector while Argentina exports food, wine, and agricultural products as well as intermediate goods. • About 90 percent of U.S. exports to Argentina are used in local industry and agriculture such as computers, industrial and agricultural chemicals, agricultural and transportation equipment, machine tools, parts for oil field rigs, and refined fuel oil. Argentine exports include goods like wine, fruit juices, crude oil, and intermediate goods like seamless pipe, tubes, and other iron-based products. • Over 500 U.S.-based companies operate in Argentina, employing 360,000 Argentines directly and supporting millions more indirectly.
    [Show full text]
  • Jorge Bermudez President and CEO of Byebrook Group
    Jorge Bermudez President and CEO of Byebrook Group On the Board of Directors for Moody’s Corporation, Electric Reliability Council of Texas, Federal Reserve Bank of Dallas and Chairman of the Board of Trustees of the Community Foundation of Brazos Valley. Mr. Jorge A. Bermudez is a Principal and Managing Partner of Byebrook Group. Mr. Bermudez served as Chief Risk Officer of Citigroup Finance Canada Inc. He served as Chief Executive Officer of Commercial Business Group in North America at Citigroup Inc. from 2005 to 2007 and its President of Commercial Business Group from 2004 to November 2007. Mr. Bermudez served as the Chief Executive Officer of Citibank Texas NA from 2004 to November 2007. He served as Chief Risk Officer of Citigroup Inc. from November 2007 to March 2008. Mr. Bermudez served as Senior Advisor of Citigroup International from March 11, 2004 to 2006. He served as Chief Executive Officer of Citigroup Latin America from 2002 to 2004. He served as Chief Executive Officer, eBusiness, Global Cash Management and Trade at Citigroup from 1998 to 2002 and Head of Citibank Corporate and Investment Bank, South America from 1996 to 1998. He served as an Executive Vice President at Citigroup since 1998. In 1993, Mr. Bermudez became President of Citibank Argentina and in 1996 was named Head of the South America Division. Mr. Bermudez joined Citigroup in 1975 and held leadership positions in other divisions, including equity investments, credit policy and corporate banking from 1984 to 1996. From 1975 to 1981, Mr. Bermudez held various positions in Citibank's National Banking Group in New York and Houston, eventually being promoted to Vice President.
    [Show full text]
  • Estudio Beccar Varela - Argentina - LL250 - Latin Lawyer Estudio Beccar Varela
    6/3/2015 Estudio Beccar Varela - Argentina - LL250 - Latin Lawyer Estudio Beccar Varela Argentina Editorial analysis Professional notice Partner profiles Confident blend of tradition and transactional strength Established: 1897 Partners: 26 Total lawyers: 126 Estudio Beccar Varela takes a bullish approach to turbulent times, choosing to look for opportunities rather than merely riding out the storm. It believes that strength in numbers and a wide service offering are the secret to survival in Argentina’s boom and bust economy, and says its well-regarded name has helped ensure clients look them up when arriving in the country. The firm maintains a confident approach to its work, recently incorporating a 20-lawyer strong firm to strengthen its banking and finance and M&A groups, and adding both a criminal law and China desk. For 2015 the firm is thinking outside the box again – this time through the incorporation of family law as a new practice. It’s already researching a potential lateral hire in this area. On top of that, it is also preparing to strengthen its M&A group if October’s elections bring a significant improvement to business activity. Since 2011 the firm has enjoyed a period of stability – so much so that partners of other firms are rumoured to have been knocking on its door. Estudio Beccar Varela is one of Argentina’s oldest and largest law firms and is commonly perceived as one of the more confident firms in the market. Best known for its corporate and M&A, banking and finance and capital markets offerings, it has strong capabilities in its non- transactional practice areas too.
    [Show full text]