PromoCapital, Haiti's pioneer investment bank

PromoCapital, established in 2004, became Haiti's pioneer investment bank, the ancillary arm of PromoBank. PromoCapital set up its headquarters in Pétionville and opened affiliate offices in Washington, D.C., Aventura, Florida, and Port-au-Prince, Haiti. The investment bank began with 70 partners in a joint-venture effort born of an agreement signed by the Haitian-American Diaspora, Haitian small- and mid-size businesses, and investment capitalists. The Haitian and U.S. shareholders would share the equity between them equally.

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PromoCapital is sub-divided into two financial entities, PromoCapital, S.A., set up as Société Fiancière de Dévelopment, in Haiti, and PromoCapital USA, Inc., a general partnership corporation licensed to operate in Delaware State. PromoCapital appointed two directors to represent its financial entities: Chairman Henri Deschamps of PromoCapital Haiti, and Dumarsais M. Siméus, Chairman of PromoCapital USA.

PromoCapital endured a corporate shake-up early on when its partners, seeking a return on investment (ROI) from 14%-18% annually, received considerably less. Although many of its original investors bolted, PromoCapital found new partners, who believed PromoCapital could rally and become a premier investment bank. Their faith the faltering investment bank could restructure and earn the ROI that would ensure its continued viability as an investment bank was rewarded.

Today, PromoCapital runs three business operations: Investment Banking, Asset Management Products, and Mortgage Banking Service Line. Its Investment Banking division, its key activity, excels in interpreting regulatory compliance requirements, spotting potentially profitable market trends, and paving the way for Haitian corporations to add several streams of revenue to their companies with long-term growth benefits.

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Read more: diaspora, Haitian-American, Investment, Mortgage, Petion-Ville, Banking, PromoCapital, PromoBank, Henri Deschamps, Dumarsais M. Sim, Asset, Finance

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