Scenario:

Anna, a relationship manager working for a German bank, travels to Buenos Aires, where she has to meet with Jose, head of a local Asset Management firm.

 

Jose introduces her to his parents: Sandra and Alexander, a retired married couple. After Jose leaves, Sandra and Alexander inform Anna that they are willing to open a joint account with the Bank. Sandra would be the beneficial owner and lives in Russia, Alexander would be the account holder and second beneficial owner. He lives in Ukraine. They both worked in the hotel industry in the past.

 

Jose will to have a power of attorney on his parent’s account.

 

Before requesting the opening of an account, Sandra and Alexander would like to know how Anna will be able to communicate with them as they travel frequently. Ideally, they would like to receive updates from Anna on a periodic basis without having to call her. They propose to meet in the future in various locations in southern France or Italian and Turkish ports, where they sail. Anna knows that Turkey, France and Italy are not strategic countries for the Bank and as such the Bank did not subscribe to the related country manuals.

 

Challenge:

Before leaving Anna duly studied the Country Manuals related to Argentina and the guidelines of the Bank. However, she is not prepared to answer Sandra and Alexander and plan the contacts based on their locations from time to time.

 

In addition, she wonders what kind of investment advice she can share with, Jose since he is a professional investor. To be able to provide an answer, she would like to consult a compliance officer at the Bank, fortunately the Bank is open despite the different time zone.