The FIAP is an international organization created in May 1996 which brings together all the countries in which pension fund managing systems have either been set up or are in the process of being implemented, with the aim of promoting individual capitalization and saving systems, sharing experiences, analyzing problems and becoming an authority capable of making proposals and interacting on an international basis, together with the national associations.

BBVA's membership in this institution is vitally important, since until now only the chairpeople of the associations of 21 countries were members of this federation. In addition to BBVA, eleven mutual fund associations participate in this body as collaborating partners.

This membership will enable BBVA to consolidate its leadership and also to maintain closer institutional relations in order to continue promoting the reforms of the pension systems needed in the various countries.

"It is very important that BBVA's leadership and capacity for developing the sector has been valued by the FIAP", said Eduardo Fuentes, manager of Pensions and Insurance in America.

BBVA is a world benchmark and a leader in the pension industry in Latin America, where it has over 12 million clients, with a market share of approximately 24%, both in revenue and in managed wealth, and it managed assets worth more than 38 billion euros as at June 2009. It is currently present in six Latin American countries (Mexico, Chile, Colombia, Peru, Bolivia and Ecuador) through pension managers.