(Bloomberg) -- Sumitomo Mitsui Banking Corp. hired Juan Toro as managing director and chief executive officer for its Mexican non-bank financial company.
Toro will partner with managing director and country head Alfredo Santillan and focus on expanding Sumitomo’s corporate internet-banking platform in Mexico, Carl Adams, SMBC America’s head of structured debt, wrote in a memo seen by Bloomberg News.
Toro was most recently at Atlantico Capital, and before that was a managing director at infrastructure project-finance advisory Astris Finance.
Sumitomo launched its Mexican sofom, a type of non-bank financial institution, in 2015 to focus on corporate and project finance following the expansion of Japanese car manufacturers and equipment suppliers in Latin America’s second-biggest economy. SMBC was a bookrunner on Mexico’s sale last week of a $1.5 billion bond to pay off its purchase of power plants from Spain’s Iberdrola SA.
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