Latin America.

Six of the 47 positions are Latin American operating businesses, four of them originated in Brazil and two in Mexico. Brazil breeds, feeds and vaccinates animals at a scale few markets match, and the licences that govern veterinary products, feed additives and seed genetics make those industries slow to enter and durable once entered. Very little of the proceeds is redeployed locally. Capital moves north into Caribbean vehicles and out again.

Panama City runs regional trade finance and the correspondent relationships along the isthmus routes. São Paulo originates agri-science and animal-health transactions and holds the Brazilian positions through a local company. Mexico City covers pharmaceutical manufacturing, where export contracts run long and the capital requirement is heavy. The Montevideo desk supports Southern Cone counterparties and the shellfish and salmon pipeline on the Atlantic coast.

The region takes the 2031 phase of Programme Latitude, which places it late in the sequence and obliges it to grow inside its present footprint until then. The trade-finance line opened in 2025 is the interim initiative. Two family relationships are covered from Brazil. Structuring runs through Curaçao and Barbados and administration through Road Town, which keeps the regional balance sheet deliberately small.