OMGI increases US offshore and Latin American presence

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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.

Distribution agreement

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.

New venture

“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.

The AMCS Group team will be led by Munho and Stapleton. Munho, co-founder and managing director, will continue to oversee advisor relationships with global banks and wire houses in Miami, as well as firms located in the Northern Cone of LatAm, with a specific focus on Colombia and Mexico.

Stapleton, co-founder and managing director, will continue to manage global key account relationships across the region, as well as advisor relationships in the Northeast and West Coast.

Santiago Sacias, senior vice president and partner in the firm, based in Montevideo, will cover the Southern Cone region, which includes Argentina, Uruguay, Chile, Brazil and Peru.

Francisco Rubio has been appointed regional vice president, responsible for the Southwest region of the US, as well as independent firms in South Florida and Panama.

The team is supported by Virginia Gabilondo, customer service manager, who joined just prior to the new firm’s launch.


Managed separation

As reported, In September 2017, OMGI’s owners Old Mutual Wealth announced its intention to divide OMGI into two separate, distinct businesses: Multi-asset and Single Strategy.

The Multi-asset business, which will be rebranded as Quilter Investors during 2018, is a part of Old Mutual Wealth’s core strategy.

In December 2017, Old Mutual Wealth announced that it had agreed to sell the Single Strategy asset management business to the Single Strategy management team and funds managed by TA Associates, the global growth private equity firm. The deal, which is subject to regulatory and other approvals, is expected to complete in 2018.

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