Headquartered in Montevideo, Aiva has been established for 16 years providing savings and long-term investment products to clients in Latin America via its platform. Old Mutual acquired a majority stake in the business in November 2012 for which it now provides administration services in the region.
Warren Tonkinson, head of global distribution, said: “This new agreement demonstrates that Old Mutual Global Investors is committed to expanding its international footprint.
“After investing in the strengthening of our Hong-Kong based team over the last year, we are now delighted to have finalised this distribution agreement with such a well-respected and successful company in Aiva, a sister company within our parent company.”
As part of the agreement, Old Mutual Global Investors will be serviced by three sales professionals who will support Chris Stapleton, head of Americas offshore distribution:
Veronica Rey and Santiago Sacias who will operate from Montevideo, with Rey providing day-to-day field sales coverage in the cross-border investment hub in Uruguay, as well as a regular presence in Chile, Brazil and Argentina. Meanwhile, Sacias will be supporting the efforts of both Rey and the wider team as an investment analyst and broker desk consultant.
Andres Munho will operate initially via a satellite presence in Miami, Florida, the US and, from 2015, will be based out of a local office in Miami’s financial district. Munho’s distribution coverage will encompass the gateway offshore investment hubs in South Florida and Texas, as well as Northern Latin America, which includes Mexico, Panama, Colombia, Peru and Venezuela.
