Nuricumbo + Partners is specialized on subjects such as financial due diligence for M&A, special audits, independent process assessments, debt/equity solutions, on-demand financial talent, anti-corruption initiatives, enterprise risk management, and corporate governance. We have become trusted business advisors for companies of all sizes, providing direct support to CEOs and CFOs in special or confidential projects.
11. OUR VALUE PROPOSITION:
Highly experienced consultants.
High degree of flexibility.
Ideal to tackle those important but not
urgent tasks that otherwise never get
done.
Able to support in the resolution of
special or confidential projects.
Important specialization in Finance and
Accounting projects.
More than 50 multidisciplinary
consultants. Average of 15 to 20 years of
professional experience.
We are Nuricumbo + Partners
12. SOME EXAMPLES:
Interim C-Level Executives.
Financial Due Diligence for M&A.
Part-Time CFOs.
Comisarios / Consejeros.
Interim Project Teams.
Specialized Training Programs.
Debt/Equity Solutions.
Fintech Trusts (Fideicomisos)
Process Improvement
Special Audits (Forensic, Compliance, etc.)
How do we help some of our clients
13. Due Diligence Financiero (M&A)
OWNED METHODOLOGY · HIGHLY QUALIFIED TEAM
Multidisciplinary team expert in financial and opetarional
issues.
Our consultants have a profile type BIG4/ Big Consulting.
Top Management point of viiew with viable recommendations
and high added value.
It allows to prevent risks and take mitigation actions on time.
Highly flexible and personalized service.
Would you like to know everything about the
business you are about to buy?
SYSTEMS· PROCESSES · PEOPLE
OBSERVATIONS INTERVIEWS RECOMMENDATIONS IMPLEMENTATION
14. More Information: contacto@nuricumbo.com / www.nuricumbo.com
First-hand knowledge of
business environment
Our business DNA is Mexico. Our
Firm has extensive experience
working with multionationals and
local companies all across the
country.
40+
1
20+
Translators of local
language and culture
We can facilitate productive
cooperation between parent and
subsidiary. We understand
corporate requirements as well
as local business practices.
We can be your eyes
and ears in the field
Taking the correct business
decisions is never easy. We can
provide you with the business
intelligence you need to be
successful in Mexico.
ROME
Do you need support with your operations in Mexico?
Mexic City
Multi-disciplinary consultants
Average years of work experience
Objective: Supporting your Company
What can we do for your company
- Interim Management - Fraud Investigations
- Financial Due Diligence - Business Process Outsourcing
- Debt/Equity Solutions - Trust Management
- Tax Advice - Special Audits
15. Complete Profiles
Armando NuricumboRodrigo Llanos
Miguel Amador
Guillermo Lagos
Former CFOFormer Investment Banking
Former Controller / Auditor
Former CEO
Jesus Bush
PWC. IPG. Bombardier. RGP.
25 years of experience.
Valmex. Inverlat. Arka.
35 years of experience.
Whirlpool. Banco Azteca.
35 years of experience.
EY. Smurfit. Maxcom. Devlyn.
30 years of experience.
3M. Imperial Chemical. IMEF
30 years of experience.
Some of our talented consultants
Alejandro Rico
Tax Partner
KPMG. Confies.
25 years of experience.
Jose Trevino
Former NAFTA Negotiator
Colmex. Comce. Cancham.
35 years of experience.
Angel Hernandez
Former CFO
Ingram. Dresser. TRW.
35 years of experience.
Roberto Fernandez
Former CIO
AT&T Capital. CIT. Alta.
30 years of experience.
Enrique Ugarte
Former VP
ProMexico. CCE. Edomex.
35 years of experience.
Former CIO
Marisol Baca
Former VP Administration
CFE. BID. Real Financiera.
25 years of experience.
José A. Ventura
Former CFO
PWC. Truper. BristolMyers.
30 years of experience.
17. $5.22 $5.49 $5.50
$0.00
$1.50
$3.00
$4.50
$6.00
July August September
Brazil
Exchange Rates
$3,732.71 $3,741.04 $3,828.40
$0.00
$1,500.00
$3,000.00
$4,500.00
July August September
Colombia
$22.28 $21.89 $22.11
$0.00
$10.00
$20.00
$30.00
July August September
Mexico
$3.53 $3.54 $3.60
$0.00
$1.00
$2.00
$3.00
$4.00
July August September
Peru
Source: Bloomberg, 2020.
*USD / PEN
*USD / MXN
*USD / CLP
*USD / BRL
*USD / COP
$0.00
$200.00
$400.00
$600.00
July August September
Chile
*USD / CLP
$72.32 $74.18 $76.18
$0.00
$25.00
$50.00
$75.00
$100.00
July August September
Argentina
*USD / ARS
18. Source: Argentina, Brazil, Colombia, Chile, Mexico and Peru Central Banks, 2020.
42.80% 42.40% 40.70%
0.00%
20.00%
40.00%
60.00%
June July August
Argentina
Inflation Rate
2.44% 2.67% 3.14%
0.00%
1.50%
3.00%
4.50%
July August September
Brazil
1.97% 1.88% 1.97%
0.00%
1.00%
2.00%
3.00%
July August September
Colombia
2.50% 2.40%
3.10%
0.00%
1.00%
2.00%
3.00%
4.00%
July August September
Chile
3.62% 4.05% 4.01%
0.00%
1.50%
3.00%
4.50%
July August September
Mexico
1.86% 1.69% 1.82%
0.00%
0.90%
1.80%
2.70%
July August September
Peru
19. $43,374 $42,842 $41,132
$0
$15,000
$30,000
$45,000
$60,000
July August September
Argentina
International Reserves
$345,706 $348,781 $356,606
$0
$120,000
$240,000
$360,000
$480,000
June July August
Brazil
$56,972 $57,185 $57,185
$0
$18,000
$36,000
$54,000
$72,000
July August September
Colombia
$36,851 $37,783 $37,821
$0
$13,000
$26,000
$39,000
$52,000
July August September
Chile
$197,891 $193,267 $193,992
$0
$60,000
$120,000
$180,000
$240,000
July August September
Mexico
$74,336 $74,668 $72,354
$0
$20,000
$40,000
$60,000
$80,000
July August September
Peru
*Million U.S. Dollars
*Million U.S. Dollars
*Million U.S. Dollars
*Million U.S. Dollars
*Million U.S. Dollars
*Million U.S. Dollars
Source: Argentina, Brazil, Colombia, Chile, Mexico and Peru Central Banks, 2020.
20. 49,253.62 46,835.42
41,260.86
0
12,000
24,000
36,000
48,000
July August September
Argentina
Capital Markets
102,912.20 99,369.20 94,603.40
0
30,000
60,000
90,000
120,000
July August September
Brazil
1,134.34 1,216.03 1,171.92
0
500
1,000
1,500
2,000
July August September
Colombia
17,512.53 18,576.89 17,948.78
0
7,000
14,000
21,000
July August September
Peru
37,019.68 36,840.73 37,458.69
0
15,000
30,000
45,000
July August September
Mexico
4,017.08 3,767.15 3,637.30
0
1,200
2,400
3,600
4,800
July August September
Chile
*IPSA:IND
*MEXBOL:IND
*SPBLPGPT:IND
*MERVAL:IND
*IBOV:IND
*COLCAP:IND
Source: Bloomberg, 2020.
21. Foreign Direct Investmet
$11,517 $11,873
$6,244.42
$0
$4,000
$8,000
$12,000
2017 2018 2019
Argentina
$68,885
$78,162 $78,559
$0
$30,000
$60,000
$90,000
2017 2018 2019
Brazil
$13,836
$11,535
$14,493
$0
$5,000
$10,000
$15,000
$20,000
2017 2018 2019
Colombia
$12,135
$5,852 $6,082
$0
$4,000
$8,000
$12,000
2016 2017 2018
Chile
$32,977
$38,644
$28,881
$0
$12,000
$24,000
$36,000
$48,000
2017 2018 2019
Mexico
$6,739 $6,860 $6,487
$0
$3,000
$6,000
$9,000
2016 2017 2018
Peru
Source: The World Bank, 2020. *BoP, Million U.S. Dollars at Current Prices
22. Credit Ratings
Argentina
CCC
(10 September 2020)
Source: Fitch Ratings, 2020
Brazil
BB-
With NEGATIVE Outlook
(5 May 2020)
Colombia
BBB-
With NEGATIVE Outlook
(1 April 2020)
Chile
A-
With NEGATIVE Outlook
(12 March 2020)
Mexico
BBB-
With STABLE Outlook
(15 April 2020)
Peru
BBB+
With STABLE Outlook
(3 June 2020)
23. Credit Ratings
Argentina
Ca
With STABLE Outlook
(28 Sept 2020)
Source: Moody’s Investors Service, 2020.
Brazil
Ba2
With STABLE Outlook
(15 May 2020)
Colombia
Baa2
With STABLE Outlook
(23 May 2019)
Chile
A1
With NEGATIVE Outlook
(25 August 2020)
Mexico
Baa1
With NEGATIVE Outlook
(17 April 2020)
Peru
A3
With STABLE Outlook
(25 Jun 2019)
24. Credit Ratings
Argentina
CCC+
With STABLE Outlook
(7 September 2020)
Source: Standard & Poor’s, 2020.
Brazil
BB-
With STABLE Outlook
(6 April 2020)
Colombia
BBB-
With NEGATIVE Outlook
(26 March 2020)
Chile
A+
With NEGATIVE Outlook
(27 April 2020)
Mexico
BBB
With NEGATIVE Outlook
(26 March 2020)
Peru
BBB+
With STABLE Outlook
(4 May 2020)
25. Country Presidents
Argentina
President: Alberto Fernandez
Birth: 2 April 1959
In office since: 10 December 2019
Political Party: Frente de Todos
Brazil
President: Jair Bolsonaro
Birth: 21 March 1955
In office since: 1 January 2019
Political Party: PSL
Colombia
President: Iván Duque Márquez
Birth: 1 Agosto 1976
In office since: 7 Agosto 2018
Political Party: Centro Democrático
Chile
President: Sebastián Piñera E.
Birth: 1 December 1949
In office since: 11 March 2018
Political Party: Independent
Mexico
President: Andrés Manuel López O.
Birth: 13 November 1953
In office since: 1 December 2018
Political Party: Morena
Peru
President: Martín Vizcarra
Birth: 22 Marzo 1963
In office since: 23 March 2018
Political Party: Peruanos por el Kambio
26. Land Area
Source: The World Bank, 2018.
2,736,690
8,358,140
1,109,500
743,532
1,943,950
1,280,000
0
1,000,000
2,000,000
3,000,000
4,000,000
5,000,000
6,000,000
7,000,000
8,000,000
9,000,000
Argentina Brazil Colombia Chile Mexico Peru
Note: Kilometers
27. Ease of Doing Business Index
126 124
67
59 60
76
0
20
40
60
80
100
120
140
Argentina Brazil Colombia Chile Mexico Peru
Source: The World Bank, 2019.
Note: 1 = Most Business-friendly Regulations
32. Exports of Goods and Services
17.3%
14.3%
15.9%
28.2%
39.1%
24.2%
0.0%
10.0%
20.0%
30.0%
40.0%
50.0%
Argentina Brazil Colombia Chile Mexico Peru
Source: The World Bank, 2019.
Note: Percentage of GDP
34. Gross Domestic Product
$449,663.5
$1,839,758.0
$323,802.8 $282,318.2
$1,258,286.7
$226,848.1
$0
$300,000
$600,000
$900,000
$1,200,000
$1,500,000
$1,800,000
$2,100,000
$2,400,000
Argentina Brazil Colombia Chile Mexico Peru
Source: The World Bank, 2019.
Note: Millions, Current US$
35. GDP Per Capita
$22,947.1
$15,258.9 $15,643.7
$25,155.0
$20,410.7
$13,380.4
$0.0
$5,000.0
$10,000.0
$15,000.0
$20,000.0
$25,000.0
$30,000.0
Argentina Brazil Colombia Chile Mexico Peru
Source: The World Bank, 2019.
Note: (i) PPP; (ii) Current International $
41. Government Expenditure on Education
5.5%
6.3%
4.5%
5.4%
4.5%
3.8%
0%
2%
4%
6%
8%
Argentina Brazil Colombia Chile Mexico Peru
Source: The World Bank, 2017 - 2019.
Note: Percentage of GDP
42. Labor Force
Source: The World Bank, 2020.
20,977.4
107,371.8
27,271.1
9,692.0
58,004.3
19,356.0
0
20,000
40,000
60,000
80,000
100,000
120,000
Argentina Brazil Colombia Chile Mexico Peru
Note: Thousands
43. Labor Force (Female)
42.9% 43.6% 43.0% 42.2%
37.8%
45.7%
0%
10%
20%
30%
40%
50%
Argentina Brazil Colombia Chile Mexico Peru
Source: The World Bank, 2020.
Note: Percentage of Total Labor Force
45. Energy Use
Source: The World Bank, 2014 - 2015.
2,030
1,496
724
2,006
1,537
790
0
500
1,000
1,500
2,000
2,500
Argentina Brazil Colombia Chile Mexico Peru
Note: Kg of Oil Equivalent per Capita
47. Population Living in Slums
17%
22%
13%
9%
11%
34%
0%
10%
20%
30%
40%
Argentina Brazil Colombia Chile Mexico Peru
Source: The World Bank, 2005 - 2014.
Note: Percentage of Urban Population
49. Bank Capital to Assets Ratio
13.5%
10.2%
17.0%
7.5%
11.0%
12.9%
0%
3%
6%
9%
12%
15%
18%
Argentina Brazil Colombia Chile Mexico Peru
Source: The World Bank, 2019.
Note: Percentage
50. Bank Nonperforming Loans
to Total Gross Loans
5.7%
3.1%
4.2%
2.1% 2.1%
3.4%
0%
1%
2%
3%
4%
5%
6%
Argentina Brazil Colombia Chile Mexico Peru
Source: The World Bank, 2019.
Note: Percentage
51. Deposit Interest Rate
47.3%
5.4% 4.5%
2.5% 3.5% 4.8%
0%
5%
10%
15%
20%
25%
30%
35%
40%
45%
50%
Argentina Brazil Colombia Chile Mexico Peru
Source: The World Bank, 2017 - 2019.
Note: Percentage
53. Listed Domestic Companies
Source: The World Bank, 2019.
91
324
66
203
139
196
0
50
100
150
200
250
300
350
400
Argentina Brazil Colombia Chile Mexico Peru
Note: Total
54. Market Capitalization of Listed Domestic
Companies
$39,393.54
$1,187,361.69
$132,040.28
$203,791.65
$413,618.82
$98,964.96
$0.0
$200,000.0
$400,000.0
$600,000.0
$800,000.0
$1,000,000.0
$1,200,000.0
Argentina Brazil Colombia Chile Mexico Peru
Source: The World Bank, 2019.
Note: (i) Millions; (ii) Current US$
55. Strength of Legal Rights Index
Source: The World Bank, 2019.
2 2
11
4
10
7
0
2
4
6
8
10
12
Argentina Brazil Colombia Chile Mexico Peru
Note: 0 = Weak to 12 = Strong
57. WHAT WE THINK
Fear and Euphoria
The Lebanese Mirror
How is a pension system like a dinosaur?
Zombieland
Welcome USMCA. Now what?
The New Battlefield
Reinvention Process
The Double Valley of Death
OUR YOUTUBE CHANNEL
Historic Lessons of the 1918 Pandemic
Willingness to Pay & Value Stick
James Francum – Perspective from Germany
Juan Carlos García: Perspectivas 2020
Toshiyuki Yasui: Chief Happiness Officer
Antonio Prida: Mediación
Max Zimmermann: Relación con Inversionistas
Oscar Becerril: Cómo superar COVID-19
OTHER
Mexico’s Top 25 CFO’s of 2017
¿Por qué medir la confianza económica?
Interview with Ana Maria Salazar (ADN40)
Entrevista con el Embajador de España en México
Entrevista con Pedro Ferriz de Con – I
Entrevista con Pedro Ferriz de Con - II
Nuricumbo + Partners in the Media
58. We care about your business priorities.
Let’s talk!
E-mail: contacto@nuricumbo.com
Mobile/Whatsapp: + 52 (155) 5453 6309
Skype: nuricua
Twitter: @a_nuricumbo
Office: Montes Urales 424
Lomas de Chapultepec, CDMX
Please visit our website