Carey counsels Bci on $62m acquisition
Carey has assisted Banco de Crédito e Inversiones in its South Florida expansion
Carey advised as local counsel Banco de Crédito e Inversiones (Bci), through its subsidiaries City National Bank of Florida (CNB) and Bci Financial Group, on the acquisition, including related regulatory approvals, of Executive Banking Corporation and Executive National Bank, both South Florida based companies for $62 million.
This is the third acquisition by Bci in the United States, after the purchase of CNB in 2015, and of Total Bank in 2018. As a result, CNB consolidates its position as the second-largest bank based in Miami.
Carey team was led by partner Francisco Ugarte (pictured) and associate Alejandra Daroch.
Avila Rodríguez Hernández Mena & Ferri (ARHMF) acted as international counsel to Bci with a team formed by partners Asnardo Garro, Alcides I. Avila, and Javier Alvarez, and associate Christopher Avila. Bci in-house lawyers Fernando Carmash and José De la Cerda participated in the transaction. Executive Bank and the sellers were assisted by principal John P. “Jack” Greeley from Smith Mackinnon, PA.
