“Norvenezuela or Northern Venezuela?”: Chumel Torres spoke of JP Morgan’s departure from Mexico

The youtuber Chumel Torres manifested itself regarding the departure of JPMorgan Chase & Co, a financial entity with a presence in several countries of the Mexican market.

Through his Twitter account, the influence shared a message from Paola Migoya, Futuro 21 coordinator in Puebla, asking her followers: “How do you hear better? Norvenezuela or Northern Venezuela?”

This is due to the fact that during the 2018 presidential campaign the idea was spread that Andrés Manuel López Obrador would ‘convert’ Mexico to Venezuela.

Danger #JPMorgan is leaving Mexico. refer all your customers to #BBV warns that Improper populist policies endanger the management of capital and make a country’s capital risk uncontrollableThey also expect us to lose investment grade, ”Migoya wrote on social media.

The financial services provider decided on Tuesday closes its doors in the country. According to people with knowledge of the subject, that is the main cause wealthy customers in some of the largest economies in Latin America transfer its resources to international financial capital.

In addition, the company will refer its local customers to BBVAHowever, it will continue to provide services to customers in Mexico through its platform outside the country.

It should be noted that JPMorgan took a similar move in Brazil last summer by closing its local private banking operations and referring Brazilian equity clients to Banco Bradesco SA.

For instance, it turned out that Andrés Manuel López Obrador’s populist policies, along with fiscal crackdowns, have prompted some families to transfer more wealth abroad.

“In Mexico, President Andrés Manuel López Obrador’s populist policies, including a tax crackdown, have prompted some families to transfer more wealth overseasOffshore accounts represent the majority of JPMorgan’s private banking operations in Mexico, ”said one of the sources Bloomberg.

JPMorgan will continue to maintain other businesses in Mexico, including investment banking, commerce and treasury services. The company spokesperson did not answer.

According to the financial advisory company It is the largest wholesale bank in Mexico among other global giants with no retail operations.

The influence Mexican shared his political views on social networks, sometimes with humor and / or irony, his comments often caused controversy.

After the Superior Audit of the Federation will indicate various irregularities and shortcomings in the administrative management of the Mexican government, Chumel Torres launched against President López Obrador, sharing a note on the resistance of the Ministry of Public Function (SFP) to be monitored by the supervisory body, the youtuber wrote on his Twitter account:

Morena came out better than PRI

Hours earlier, the “Pulse of the Republic” host responded to the Mexican president, saying at a morning press conference that “They exaggerate, their data is incorrect”, referring to the ASF report.

The ASF finds irregularities for more than 67 billion euros in López’s first year. “They are exaggerating … I have other data,” he replies. There is no doubt that this president will go down in history, just not as he believes

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