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.
17. WE SUPPORT SENIOR MANAGEMENT IN THE
RESOLUTION OF SPECIAL OR CONFIDENTIAL
PROJECTS.
Ideal to tackle those projects that are crucial
but sometimes difficult to deliver internally.
Teams of highly experienced consultants.
Our consultants have on average 20/25
years of professional experience.
Reduced learning curve / More productivity.
High degree of flexibility.
Solid specialization in Finance, Audit, Tax and
Accounting.
Big Four / Big Consulting background.
Who are we?
18. Internal and External Audit.
Special reviews (financial, process,
operational, compliance, forensic, etc.)
Financial Due Diligence for M&A.
Tax Compliance.
Comisarios. Board Members. Advisory Board.
Interim C-Level Executives (CEOs, CFOs, etc.)
Interim Project Teams.
Specialized Training Programs.
Debt/Equity Solutions.
Fintech Trusts (Fideicomisos).
How do we help some of our clients?
19. “Armando is a much travelled accountant with international experience in commercial sector and
proven language skills. Through working with a wide range of business and in many different
countries he has developed the skill of analyzing how organizations operate in a wide variety of
geographical locations and business environments and in the assessment of internal controls.” –
Eduardo Mediavilla, Protiviti Spain
“The firm’s international experience and knowledge of consulting methodology makes them a
valuable asset to any company. I've worked with them during mandates in Germany and Canada,
and I know they strive for on-time and quality deliverables.” – Victor Terreros, Senior Project
Manager, Bell Canada
“Nuricumbo has experienced professionals with a great can-do attitude and an ability to
communicate effectively to reach set goals. My confidence in Armando's firm was demonstrated by
hiring them for a complex project with implications in Mexico and The U.S., which was successfully
delivered and at a very competitive cost.” – Henry Gonzalez, Senior Audit Manager, WPP
“The Nuricumbo firm has been fundamental to finally establish solid and reliable finance business
practices for our company in Mexico. Their vast international exposure to different types of
companies translates into deep knowledge in corporate governance applicable to companies of any
kind or size.” – Inaki Mazzaredo, VP Latam Georg Fischer
Some testimonials
20. COMPANY
PROFIT
Interim Management in Mexico
YOUR TRUSTED BUSINESS ADVISORS
What can we bring to the table:
- Consultants with more than 20 years of
experience.
- Fully bilingual.
- Expert knowledge of business
practices in the country.
- Flexible business model.
- Honest, independent and reliable.
- We have all worked for multinationals
operating in Latam.
WE CAN PROVIDE EFFECTIVE AND
EXPERIENCED INTERIM CONSULTANTS TO
TACKLE SPECIAL OR CONFIDENTIAL
PROJECTS IN MEXICO.
We can take over processes or business
units and provide oversight on their
performance while a permanent
management solution is established.
2
0
We can provide CEO, CFO, CIO, or CHRO
type of profiles. After a certain period of
time, you can even hire our consultants,
which results in a much more certain
hiring decision.
21. COMPANY
PROFIT
Internal Audit Support
2
1
We can enhance your audit projects in Mexico,
Latin America, or anywhere else.
Talent Mobility
Flexibility Capabilities
Our consultants can travel in Mexico, in
Latin America, or basically anywhere you
need them. We have successfully
delivered audit projects in many countries.
We are particularly effective where
English, Spanish or Portuguese is spoken.
Worldwide Mobility
We have a multidisciplinary approach,
combining specialists in internal controls,
forensics, IT, business intelligence,
process automation and compliance. We
have an internal quality function to ensure
objectives are always met. The result is a
powerful combination of skills that allows
us to deliver extra value in each
engagement.
Special Audit Capabilities
Talented Senior Consultants
Maximum Flexibility
Our talent is available under a very
flexible model. We have delivered
projects that have taken 1 day, 1
month or 1 year to complete. Our
rates are the best in the market. We
can manage co-sourcing or out-
sourcing audit initiatives. And in
Latin America, we have the local
knowledge and insight.
We have a solid base of senior audit
consultants, all of them highly
trained and with rich experience in
multinational environments, ready to
support your audit projects.
Our objective: To work with the best internal audit departments around the
world, to help their organizations to manage better the risks and
opportunities of their global operations.
23. $5.50 $5.74 $5.33
$0.00
$1.50
$3.00
$4.50
$6.00
$7.50
September October November
Brazil
Exchange Rates
$3,828.40 $3,891.00 $3,621.95
$0.00
$1,500.00
$3,000.00
$4,500.00
September October November
Colombia
$22.11 $21.19 $20.16
$0.00
$10.00
$20.00
$30.00
September October November
Mexico
$3.60 $3.62 $3.60
$0.00
$1.00
$2.00
$3.00
$4.00
September October November
Peru
Source: Exchange Rates UK, 2020.
*USD / PEN
*USD / MXN
*USD / CLP
*USD / BRL
*USD / COP
$0.00
$200.00
$400.00
$600.00
September October November
Chile
*USD / CLP
$76.18 $78.32 $81.32
$0.00
$25.00
$50.00
$75.00
$100.00
September October November
Argentina
*USD / ARS
24. Source: Argentina, Brazil, Colombia, Chile, Mexico and Peru Central Banks, 2020.
40.70% 36.60% 37.20%
0.00%
20.00%
40.00%
60.00%
August September October
Argentina
Inflation Rate
2.94%
3.89%
4.77%
0.00%
1.50%
3.00%
4.50%
August September October
Brazil
1.88% 1.97% 1.75%
0.00%
1.00%
2.00%
3.00%
August September October
Colombia
2.40%
3.10% 3.00%
0.00%
1.00%
2.00%
3.00%
4.00%
August September October
Chile
4.05% 4.01% 4.09%
0.00%
1.50%
3.00%
4.50%
August September October
Mexico
1.82% 1.72%
2.14%
0.00%
0.90%
1.80%
2.70%
September October November
Peru
25. $41,132 $39,524 $38,622
$0
$15,000
$30,000
$45,000
$60,000
September October November
Argentina
International Reserves
$354,664 $356,092 $356,606
$0
$120,000
$240,000
$360,000
$480,000
August September October
Brazil
$57,185 $56,979 $56,919
$0
$18,000
$36,000
$54,000
$72,000
August September October
Colombia
$37,822 $38,260 $39,165
$0
$13,000
$26,000
$39,000
$52,000
September October November
Chile
$193,992 $194,351 $194,288
$0
$60,000
$120,000
$180,000
$240,000
September October November
Mexico
$72,354 $72,468 $71,723
$0
$20,000
$40,000
$60,000
$80,000
September October November
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.
26. 41,260.86 45,225.52
54,572.54
0
16,000
32,000
48,000
64,000
September October November
Argentina
Capital Markets
94,603.40 93,838.62
108,893.32
0
30,000
60,000
90,000
120,000
September October November
Brazil
1,171.92 1,136.75 1,258.00
0
500
1,000
1,500
2,000
September October November
Colombia
17,948.78 17,472.20
19,796.51
0
5,000
10,000
15,000
20,000
25,000
September October November
Peru
37,458.69 36,987.86
41,778.87
0
12,000
24,000
36,000
48,000
September October November
Mexico
3,637.30 3,539.92
4,032.87
0
1,200
2,400
3,600
4,800
September October November
Chile
*IPSA:IND
*MEXBOL:IND
*SPBLPGPT:IND
*MERVAL:IND
*IBOV:IND
*COLCAP:IND
Source: Trading Economics, Yahoo Finance, 2020.
27. Foreign Direct Investmet
$11,517 $11,873
$6,663.00
$0
$4,000
$8,000
$12,000
2017 2018 2019
Argentina
$68,885
$78,162 $73,504
$0
$30,000
$60,000
$90,000
2017 2018 2019
Brazil
$13,836
$11,535
$14,314
$0
$5,000
$10,000
$15,000
$20,000
2017 2018 2019
Colombia
$6,128 $7,323
$11,928
$0
$4,000
$8,000
$12,000
2017 2018 2019
Chile
$33,030 $37,682
$29,360
$0
$12,000
$24,000
$36,000
$48,000
2017 2018 2019
Mexico
$6,860 $6,488
$8,892
$0
$3,000
$6,000
$9,000
$12,000
2017 2018 2019
Peru
Source: The World Bank, 2020. *BoP, Million U.S. Dollars at Current Prices
28. Credit Ratings
Argentina
CCC
(September 10, 2020)
Source: Fitch Ratings, 2020
Brazil
BB-
With NEGATIVE Outlook
(November 18, 2020)
Colombia
BBB-
With NEGATIVE Outlook
(November 6, 2020)
Chile
A-
With STABLE Outlook
(October 15, 2020)
Mexico
BBB-
With STABLE Outlook
(November 11, 2020)
Peru
BBB+
With STABLE Outlook
(June 3, 2020)
29. Credit Ratings
Argentina
Ca
With STABLE Outlook
(September 28, 2020)
Source: Moody’s Investors Service, 2020.
Brazil
Ba2
With STABLE Outlook
(May 15, 2020)
Colombia
Baa2
With NEGATIVE Outlook
(December 3, 2019)
Chile
A1
With NEGATIVE Outlook
(August 25, 2020)
Mexico
Baa1
With NEGATIVE Outlook
(April 17, 2020)
Peru
A3
With STABLE Outlook
(June 25, 2019)
30. Credit Ratings
Argentina
CCC+
With STABLE Outlook
(September 7, 2020)
Source: Standard & Poor’s, 2020.
Brazil
BB-
With STABLE Outlook
(April 6, 2020)
Colombia
BBB-
With NEGATIVE Outlook
(October 28, 2020)
Chile
A+
With NEGATIVE Outlook
(April 27, 2020)
Mexico
BBB
With NEGATIVE Outlook
(March 26, 2020)
Peru
BBB+
With STABLE Outlook
(November 23, 2020)
31. Country Presidents
Argentina
President: Alberto Fernandez
Birth: April 2, 1959
In Office Since: December 10, 2019
Political Party: Frente de Todos
Brazil
President: Jair Bolsonaro
Birth: March 21, 1955
In Office Since: January 1, 2019
Political Party: PSL
Colombia
President: Ivan Duque Marquez
Birth: August 1, 1976
In Office Since: August 7, 2018
Political Party: Centro Democratico
Chile
President: Sebastian Piñera E.
Birth: December 1, 1949
In Office Since: March 11, 2018
Political Party: Independent
Mexico
President: Andres Manuel Lopez O.
Birth: November 13, 1953
In Office Since: December 1, 2018
Political Party: Morena
Peru
President: Francisco Sagasti
Birth: October 10, 1944
In Office Since: November 17, 2020
Political Party: Partido Morado
32. 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
33. 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
38. 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
40. 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
$2,400,000
Argentina Brazil Colombia Chile Mexico Peru
Source: The World Bank, 2019.
Note: Millions, Current US$
41. 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 $
47. 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
48. 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
49. Labor Force (Female)
42.9% 43.6% 43.0% 42.3%
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
51. 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
53. Population Living in Slums
14.7%
16.3%
27.8%
8.8%
16.0%
33.1%
0%
10%
20%
30%
40%
Argentina Brazil Colombia Chile Mexico Peru
Source: The World Bank, 2018.
Note: Percentage of Urban Population
55. 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
56. 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
57. 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
59. 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
60. 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
$1,200,000.0
Argentina Brazil Colombia Chile Mexico Peru
Source: The World Bank, 2019.
Note: (i) Millions; (ii) Current US$
61. 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
63. WHAT WE THINK
Winning an election does not resolve our problems
The reinvention of big global cities
North America: From shared prosperity to failed state
Who will win the U.S. elections?
Will we avoid another lost decade?
Inequality is not a good business
The Lebanese mirror
Wirecard, external audit and the public interest
OUR YOUTUBE CHANNEL
Walter Buchanan: US Elections 2020
Vestiga Consultores: Información y pandemia
Historic Lessons of the 1918 Pandemic
Willingness to Pay & Value Stick
James Francum – Perspective from Germany
Toshiyuki Yasui: Chief Happiness Officer
Antonio Prida: Mediación
Oscar Becerril: Cómo superar COVID-19
OTHER
Encuesta Resiliencia Económica: Octubre 2020
Riesgo Global: Relación Estados Unidos - China
Ranking Empresas Zombies Mexico: Q2 2020
Mexico’s Top 25 CFO’s of 2017
¿Por qué medir la confianza económica?
Perspectivas internacionales 2020
Nuricumbo + Partners in the Media
64. 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