OMGI increases US offshore and Latin American presence
Old Mutual Global Investors (OMGI) has entered into a new relationship with a recently established, Miami-based, third-party distribution firm in a bid to “reaffirm its commitment” to the US offshore and Latin American regions.
The London-based asset management specialist said that it has entered into a new agreement with recently launched The AMCS Group, whose official brand will be announced soon.
AMCS was co-founded by US offshore and LatAm industry veterans Chris Stapleton and Andres Munho in February this year and its business is headquartered on Brickell Avenue in Miami with satellite offices in Boston and Montevideo.
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, OMGI said in a statement announcing the deal.
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 was effective from 1 April 2018, the team will work with OMGI, continuing to develop and support the business’s position in the market.
OMGI’s Single Strategy business oversees more than $1.35 billion in the region (as at 31 December 2017)
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.