Market analysis

Wealth preservation and growth

Àlex Fusté, our chief economist

Àlex Fusté has a degree in Economics from the University of Barcelona and currently holds the position of Chief Economist at Andbank. He continuously analyses economic and political information, supported by a team of professionals in over 14 countries, with the view of better understanding the economic mechanisms and the global markets.

Financial Analysis with

Álex Fusté

"The study is still profitable. With a bit of patience, it can yield the best reward of all; your client's trust

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Interview with Àlex Fusté

Our Chief Economist presents Andbank’s market outlook, prepares periodic reviews and discusses issues that clearly concern private banking clients.

What is Andbank’s market analysis and outlook based on?

In study: because studying is independence and this leads to freedom. The freedom of not being obliged to change the composition of portfolios simply because someone has changed the discourse. We do not aim to achieve certainty. It doesn’t exist in economics, but not getting to the bottom of things is the same as acknowledging that you don’t want to get there. But beware, when you think you’ve glimpsed the evidence this is when you run the greatest of dangers, as Bonaparte said: «Only fools think they’ve acquired wisdom. Wise people, however, continue to seek it». That is why we always maintain a critical voice with our own stance, while at the same time encouraging constant discussion, precisely with those who hold opposing positions.

Apart from the global macroeconomic view of the bank, are periodic analyses prepared for the different Andbank Group entities?

No. That would be tantamount to recognizing that certain information is only relevant to one jurisdiction. Nothing could be further from the truth. I have always argued that there is nothing more ridiculous than facing the problems inherent to a region from a local perspective.

We develop very diverse periodic analyses that may include, for example, a global economic mechanism, or even the fiscal policy of Peru. This does not mean that both studies are unrelated or that they lead to independent conclusions. The conclusions of the former will probably condition those of the second, although it is difficult to link both subjects.

Our studies may have more general or specific approaches, but we try to show the influences that come into play and how they condition our overall view. These studies are not reserved for specific jurisdictions, but are explained to all our decision-making centres. We do not try to encourage regionalist views.

What aspects of the global economy most concern private banking clients?

The subjects that most concern a private banking client are related to major assets such as the dollar, the stock market, market interest rates etc. In short, assets in which the client is mostly exposed. It should be recalled, however, that the range of action in financial markets is much larger than clients practice. This is a time when the degree of globalization has reached the highest levels in history. It is our obligation to guide our clients towards new investment environments. In short, new assets. This implies, firstly, more subjects in which clients should be interested but, furthermore, this gives them more opportunities to reach the desired compensation objectives.

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