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Rafael Mejía López has been a Colombian Mercantile Exchange board member for more than 10 years and will join after serving as head of the Colombian Agricultural Society.

“We are committed to investing in Colombia, a strategic market that represents huge potential,” said Gustavo Marín of First Data.

The move into Colombia is part of Kennedy's larger push into Latin America, and its Bogotá practice will focus on claims, coverage, and corporate law for the insurance world.

Isabella Muñoz, executive director of Colcapital, has seen private equity in Colombia go from nothing in 2005 to nearly $10 billion USD now among her organization's 99 members.

Though Bancolombia's recapitalization plan may yield dividends, "Fitch does not expect capitalization to return to levels reported in 2014 during this period."

"This is an efficient and innovative initiative that allows Bancolombia to make life easier for its customers," says the bank.

Colombian companies are facing multiple headwinds that are hurting cash flow and leading to increased leverage, according to Fitch Ratings.

Coinapult, a startup in Panama City, has launched an initiative to allow Colombians to buy Bitcoin at some 300 kiosks across Colombia.

The new fund targets high-risk investors looking to generate returns over the long term through greater exposure to global stock markets.

More than $4.6 billion USD in remittances entered Colombia last year — a 13.3% spike over 2014 and the second largest increase in Latin America.