Background on Vector Casa de Bolsa and Alfonso Romo
Vector Casa de Bolsa, a brokerage firm led by Alfonso Romo, has initiated the organized transfer of client portfolios and assets to Casa de Bolsa Finamex. This move does not constitute a merger, acquisition of license, or takeover of Vector.
Objective of the Transfer
The primary goal of this transfer is to ensure the continuity, stability, and security of clients’ investments. The assets will remain intact, safeguarded by Indeval and backed by Mexican regulations.
Integration of Vector’s Promoters and Advisors to Finamex
Finamex and Vector announced in separate statements to the Mexican Securities Exchange that Vector’s promoters and advisors will join Finamex to maintain service quality.
Context and Recent Developments
This transfer comes several weeks after CI Banco and Intercam sold partial assets, following a similar path. The US has imposed strict measures effective on the 20th of this month, preventing Mexican institutions from conducting operations in the US.
Allegations of Money Laundering
The Financial Crimes Enforcement Network (FinCEN) under the US Department of Treasury issued orders on June 25, 2025, under the Fentanyl Sanctions Act and the FEND Off Fentanyl Act. These designated CI Banco, Intercam, and Vector Casa de Bolsa as primary concerns for money laundering related to illicit opioid trafficking, specifically fentanyl.
Despite the severe accusations, FinCEN has yet to provide concrete evidence against Mexican financial institutions, according to the Mexican government.
Mexican Government’s Response
The Secretaría de Hacienda y Crédito Público, headed by Edgar Amador, swiftly intervened managerially to protect clients and investors. This intervention, however, may have hastened the decline of the banks and brokerage firm due to the reputational damage.
Impact on Specific Institutions
CI Banco sold its trust business to Multiva and its automotive portfolio to Bancoppel. Intercam transferred the majority of its assets to Kapital Bank but retained its banking license.
Vector has been treated differently compared to the involved banks. Managerial intervention was applied days after the banks, and now Vector is also undergoing an organized transfer of client portfolios and assets to Finamex.
Details of the Transfer
Vector, after a thorough and responsible strategic options analysis, decided that the best way to protect clients’ interests is to transfer portfolios and assets of eligible clients to Finamex.
- Scope: The operation exclusively involves transmitting clients’ investment accounts that meet pre-established eligibility criteria (in accordance with Know Your Customer regulations and anti-money laundering measures) along with ceding positions in funds managed by Vector Fondos.
- Finamex’s Role: Finamex agreed to receive client accounts meeting the established requirements between the two institutions. Additionally, Finamex will incorporate Vector Fondos’ investment funds into its portfolio.
- Regulatory Compliance: The transaction is subject to certain regulatory requirements and authorizations, strictly adhering to current regulations.
Key Questions and Answers
- What is happening with Vector Casa de Bolsa? Vector is transferring client portfolios and assets to Finamex amidst US regulatory pressure.
- Why is this transfer taking place? To ensure the continuity, stability, and security of clients’ investments while maintaining service quality.
- What are the allegations against these institutions? The US Department of Treasury’s FinCEN accused CI Banco, Intercam, and Vector Casa de Bolsa of money laundering related to illicit opioid trafficking.
- How has the Mexican government responded? The Secretaría de Hacienda y Crédito Público intervened managerially to protect clients and investors.
- What are the details of the transfer? Vector will transfer eligible client investment accounts and ceded positions in managed funds to Finamex, which will incorporate these assets into its portfolio.
