Local asset management market set to grow. (Mitchell Hutchins Asset Management Inc.)

President of Mitchell Hutchins says basic elements are in place, points to firm's own expansion in Puerto Rico

All the ingredients are in place for Puerto Rico's asset management market to grow steadily in coming years, according to Stephen Canter, president of the New York-based asset management firm Mitchell Hutchins.

"This is a dynamic market. We're seeing certain early signs of change that we've seen in other places around the (U.S. and that augur strong growth for asset management in Puerto Rico," he told CARIBBEAN BUSINESS during his brief visit to the island last week.

Among those signs is the fast rise in the number of financial consultants …