Bessemer Trust has recruited Alfonso Baigorri to head its Miami office as Managing Director. After five years at the helm of the aforementioned office, Michael Marquez now assumes the position of Regional Director for Florida at Bessemer Trust, which has offices in Miami, Palm Beach and Naples.
As Baigorri himself, who to date has worked as managing director for JPMorgan Private Bank, explained to Funds Society, he joins one of the largest family offices in the United States with great enthusiasm, since it is a new challenge in his career; which for the past 20 years has been focused mainly on wealth consultancy to international families with family and economic ties both abroad and in the United States.
From this moment on, Baigorri assumes the management of Bessemer Trust in Miami, where he shall be in charge of professionals who work primarily with U.S. clients, although in recent times the number of foreign clients abroad, and foreign clients who have moved to Southern Florida, have contributed to design a new structure in Miami for a family office which has 107 years of history in the United States.
In addition to JPMorgan, where he worked since January 2008, Baigorri has been a partner in companies such as Buchanan Ingersoll & Rooney and Katz Barron Squitero Faust, as well as holding various positions at Banco Santander, where he worked for 12 years both in Puerto Rico and in Miami. Baigorri, a graduate of Boston University, has a Law degree from the Faculty of Law at the InterAmerican University and an LL.M. in Estate Planning from the University of Miami. Baigorri belongs to the Florida Bar Association and is a member of the Society of Trust and Estate Practitioners (STEP).
Meanwhile, Marquez is responsible for all of Bessemer’s interests in Florida, including the management of client relationships and new business development for the firm’s three offices in the state.
Before joining Bessemer, Marquez worked as managing director for JP Morgan Private Bank, coinciding with Baigorri, and also served as a member of the company’s mergers and acquisitions division. Prior to this, Martin spent several years at PricewaterhouseCoopers, where he held the position of manager for the group’s Global Capital Markets division.
Marquez holds a Columbia Business School MBA with honors, and is a Boston College Magna Cum Laude graduate.
Bessemer Trust was founded in 1907 by Henry Phipps, a partner of Andrew Carnegie in the Carnegie Steel Company, and the company still holds and manages his property; the company has 95 billion dollars in assets under management and has a ratio of three customers per employee. It currently has more than 2,200 customers and 800 employees and their average client has a portfolio of 43 million dollars.
Bessemer's headquarters are in New York. The firm has offices in major U.S. cities as well as in London and in the Cayman Islands.