Natixis Global Asset Management has opened a office in Montevideo in Uruguay, its first in South America.

The firm has chosen Montevideo as the headquarters for the South America region, with an aim to offer global and regional banks as well as independent financial advisors in Uruguay and Chile access to its global network of independent affiliated investment managers specializing in various asset classes and investment styles.

The new Montevieo office is the firm’s second one in Latin America, following the launch of its Mexican operations last year.

Natixis was till now servicing the southern region of the continent through its US and Europe team, with its portfolio research and consulting group working with global and regional private banks.

The firm also intends to continue its expansion strategy in the region over the coming years.

Natixis Global Asset Management general manager of Iberia and head of Latin America Sophie del Campo said, "What differentiates us from other international asset managers coming to South America in recent years is our unique business model, based on our own global diversified network of specialized asset managers. This office reflects our strong commitment to the local and regional markets and our continued commitment to Latin America."