Latin America & Caribbean
|Date joined:||10 September, 2020|
|Initiatives:||Principles for Responsible Banking|
Monex is one of the most dynamic and growing financial services providers in the Mexican market and around the world. With more than 35 years of experience, the main activities are to provide banking and brokerage services. Monex is a publicly listed company in the Mexican Stock Exchange since 2010, its main subsidiaries are:
• Monex Grupo Financiero formed by three financial entities: Banco Monex (Bank), Monex Casa de Bolsa (Brokerage firm) and Monex Operadora de Fondos (Fund Management)
• Arrendadora Monex
• MNI Holding formed by Tempus (USA) and Monex Europe
Monex is headquartered in Mexico City and has a salesforce distributed across 35 offices in Mexico; it offers products for Corporate Banking such as foreign exchange, international payments, derivatives, business loans, online banking services, cash management and investment and for Private Banking securities market, mutual funds, international investments and trust services.
In the U.S., Monex operates corporate foreign exchange solutions under the TempusFX brand. The company has also a presence in Europe through its subsidiary Monex Europe, a leading specialist in commercial foreign exchange based in London. It offers a suite of FX products and international payment services designed to address the needs of corporate clients and private high net-worth individuals.
Grupo Financiero Monex is are aware that to achieve business excellence we must consider Social Responsibility as an integral part of our corporate strategy.Thus, we actively support different international initiatives that promote the fulfillment of the global ESG goals.
Since 2004, Monex established 4 strategic axes of Social Responsibility (Environmental protection, Community , Governance and People), based on our corporate values, which allow us to maintain relationships with our different Stakeholders.
- Monex carbon footprint comprises direct and indirect Greenhouse Gas (GHG), during the last year (2019), the compensation of emissions was considered through reforestation programs witha total planting of 1,935 trees.
- We support sustainable community projects and thus, make an integral change in the quality of life of their population.
In the same way, as part of the financial sector we allocate funds for scholarships and integral services that benefit children and young students.
In addition to the Corporate Social Responsibility strategy described above, and having observed that in recent years ESG risks and opportunities (environmental, social and corporate governance), are more frequent and have a higher impact, Monex Financial Group or Bank Monex, decided to internalize, a deeper measurement and managnemet of the ESG risks into the business model besides the traditional corporate strategy.
Regarding the incorporation of ESG risks and opportunities in the business model, Monex Financial Group or Bank Monex, decided to become one of the first local banks (or groups) to create a Sustainability Committee with the approval of the stakeholders council in January 2020. The new committee´s name : COSUSTENTA (Comité de Analisis de Riesgos y Oportunidades de Negocio Sustentable) is in charge of the design and execution of the work plan (ESG broader agenda ).