In This Report - Banco Mercantil

With a continued focus on improving its offering of high value-added advisory services,
MCIS completed the migration of most customer relationships into new discretionary
advisory portfolios that were better positioned to meet the client’s financial goals. MCIS
expects the demand for professionally managed advisory portfolios to continue to increase
and represent a higher share of total customer assets. To serve client needs and preferences,
a new model portfolio with variable exposure to different asset classes was launched.
During the last quarter of 2010, MCIS launched a strategy to expand its customer base
through the Bank’s 17 retail banking centers. Bankers are being provided with basic training
on MCIS products and services in order to better identify customers with investment needs
that can be serviced by MCIS and their experienced investment advisors.
New and existing customers from the Private Banking and International Personal and
Commercial Banking divisions, on top of positive market performance across most asset classes,
contributed to MCIS’s total customer assets remaining above $1.2 billion throughout the
year.
Revenues from advisory and brokerage services reached a total of $8.8 million, a 34 percent
increase. These results contributed to an increase of 49 percent in net income, ending the
year at $2.8 million compared to $1.9 million in 2009.
During 2011, MCIS will continue to prepare for continued growth by investing resources
into customer service, trading and execution, compliance, and portfolio management activities.
In order to remain competitive, new products and improvements to existing products
are scheduled to be rolled out during the year.
Mercantil Commercebank Trust Company, N.A.
MCTC is a national trust bank with fiduciary powers, regulated and supervised by the U.S.
Office of the Comptroller of the Currency. MCTC offers fiduciary and financial management
services to a client base of high net-worth individuals throughout the United States,
Latin America, the Caribbean and Europe. MCTC specializes in providing a wide array of
trust and estate planning products and services to help clients and their families build and
preserve their assets and achieve their wealth management objectives. MCTC is in a unique
position to provide these services across multiple jurisdictions thanks to Mercantil’s global
reach. Utilizing a multi-disciplinary approach for the development of its product offerings,
MCTC employs a variety of sound investment strategies, efficient trust products and financial
expertise to implement personalized estate-planning solutions capable of meeting the most
complex and growing client needs.
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Mercantil Commercebank