AFP Habitat acquires Colfondos from Colpatria and Scotiabank.

Administradora de Fondos de Pensiones Habitat(AFP Habitat), one of the largest pension fund administrators in Latin America acquires Colfondos, the third-largest pension fund manager in Colombia from Colpatria, a Colombian investment firm, and Scotiabank. “Scotiabank is committed to growing and increasing our scale in Colombia as demonstrated by our recent acquisition of Citibank’s retail and commercial operations last year, increasing our wealth management and insurance offerings to our customers,” said Jaime Upegui, President and CEO of Scotiabank Colpatria. “We are committed to working closely with AFP Habitat to support a smooth transition of the business.”