Episode 42 – Mexican Clients and Wealth Protection: Insights from Procopio

Guests: Enrique Hernandez-Pulido and Raúl Villarreal Garza, Partners at Procopio

In this episode, David Warren – Co-Founder and Chairman of Bridgeford Trust Company – interviews Enrique Hernandez-Pulido and Raúl Villarreal Garza – Partners at Procopio, an AmLaw 200 corporate and litigation law firm. Enrique and Raúl share insights into Procopio’s success and their diverse backgrounds, contributing to a remarkable team of attorneys with licenses in the U.S. and abroad.

The discussion focuses on the current political and economic environment in Mexico and the tension clients are experiencing. Enrique and Raúl discuss how Mexican clients are navigating recent developments, including the election in Mexico, which presents both opportunities and concerns. They emphasize the importance of jurisdiction selection and fiduciary duty amid the uncertainty many are feeling.

As they conclude, David asks for their views on the strong push for transparency through CRS and FATCA, as well as the CTA, balancing client privacy with regulatory demands. They also discuss the impact of the Pandora Papers and Panama Papers, defending the trust industry’s stance on asset protection, privacy versus secrecy, and tax planning versus tax evasion.