The US distribution company is currently known as the AMCS Group, but an official brand will be announced soon.
It was co-founded in February by US offshore and LatAm industry veterans Chris Stapleton and Andres Munho.
AMCS Group is headquartered in Miami, Florida with satellite offices in Boston, Massachusetts and Montevideo, Uruguay.
Led by Munho and Stapleton, the firm has three additional sales and client service personnel to support the OMGI account.
Another Miami-based sales hire is anticipated before the end of the quarter.
Existing relationship
Stapleton, Munho and team have served OMGI’s intermediary clients in the region for eight years, collectively, under OMGI’s previous distribution agreements.
Under the new arrangement, which is effective from 1 April 2018, the team will work with OMGI to continue to develop and support its position in the market.
In addition to further strengthening the business’s reputation in these areas, the team will also look to position its global fixed income proposition to clients in the US and LatAm markets.
As of 31 December 2017, OMGI’s Single Strategy business oversees more than $1.35bn (£962m, €1.1bn) in the region.
Active expansion
Warren Tonkinson, managing director, OMGI, said: “OMGI has been actively expanding its US offshore and Latin American client base over the last few years, with great success. Under Chris and Andres’s stewardship, we’ve built a strong reputation in the region for offering innovative investment solutions with positive returns.
“We’re thrilled to continue our relationship with Chris, Andres and the team and support their new business venture. We have every confidence that together, we will successfully execute the next stage of our development plan, enhancing our reputation and growing our distribution.”
Chris Stapleton, co-founder and managing director, the AMCS Group, said: “Developing an independent distribution business has been a goal of mine and Andres for some time and we’re delighted to have established this business with the support of OMGI.
“We’re equally pleased to be able to bring our entire team across into this new structure to ensure continuity for our clients. Having worked with OMGI for many years, we are very excited for the next stage of our journey, helping investors tackle the challenges presented by today’s market environment.”
OMGI
The Single Strategy business of OMGI was sold by Old Mutual Wealth (OMW) in a private equity deal worth £600m ($842m, €687m) in December 2017.
The deal is still subject to regulatory and other approvals and is expected to complete in 2018.
The remaining OMGI multi-asset business is not associated with this deal. It is to be spun off by OMW and will rebranded as Quilter Investors in 2018.
