Santander Mexico appoints Jpmorgan as depositary bank for ADR program
NEW YORK: JP Morgan was today selected by Santander Mexico to act as depositary bank for the company’s American Depositary Receipt (ADR) program in relation to its recent initial public offering (IPO) of USD 4.1 billion, the largest equity offering and IPO ever in Mexico. The NYSE-listed ADRs trade under the symbol BSMX. Santander Mexico is one of Mexico’s leading financial services holding companies and provides a wide range of financial services, including retail and commercial banking, securities underwriting, brokerage, custody services, and asset management. This mandate further strengthens our relationship with Banco Santander, as we currently manage existing ADR programs for shares of Santander’s Spanish, Chilean and Brazilian units, said Dennis Bon, global head of depositary receipts at J.P. Morgan.