Allfunds Bank, an open architecture funds platform, is set to open a new Brazil headquarters in São Paulo, with the appointment of Jorge Sierra as the firm’s new country head.
This will be the firm’s first physical office in that market. However, Allfunds has been present in Brazil since 2016 and has plans to continue to accelerate its growth in the LatAm market.
Sierra will be responsible for heading up the Allfunds São Paulo office, reporting directly to Laura Gonzalez, head of Iberia and Latin America. He was previously the country head in Brazil and also responsible for global accounts.
“Brazil is an extremely important market and we are thrilled to be continuing to work with our clients to help streamline the distribution process. I personally feel very connected to Brazil after my time there launching the Allfunds Brazilian business.
“It is a unique and highly dynamic market that really has something special to offer and I am confident that Jorge´s experience will have a great impact,” Laura Gonzalez said in a statement.
This week, Allfunds also revealed it had appointed Sebastián Ochagavía as its Chile country head, a role in which he will also be responsible for Uruguay and Argentina.
An open architecture platform, Allfunds had more than $429bnin assets under administration, including $18.6bn in Latin America and US offshore.