Jefferies has recruited Ernesto de la Fe to lead its international Wealth Management project in the Americas region. According to industry sources, Morgan Stanley’s former Managing Director has taken over his new post just over two weeks ago; he will be based in Miami, the city where Ernesto de la Fe has spent most of his professional career.
With over 30 years experience in private banking, de la Fe will now hold the post of Managing Director and Director of Wealth Management for Latin America, with responsibility also over the Wealth Management business in the state of Florida (onshore and offshore) .
Jefferies is a global investment bank with a history spanning over 50 years and with headquarters in New York, London, and Hong Kong, which, in addition to covering all the activities of an investment bank with a boutique focus, also has a wealth management division targeting the UHNWI and middle market segments.
Ernesto de la Fe joined Morgan Stanley in 2006 to create and lead the Private Wealth Management project for Latin America based in Miami, focusing on these same customer segments (UHNW and middle market). Throughout his career at the firm, which he left in late 2014, de la Fe was responsible for Morgan Stanley’s International Wealth Management business in the Americas and Switzerland, with a team of over 400 financial advisors following Morgan Stanley’s merger with Smith Barney, a company which provided the more retail side of the business.
Before joining Morgan Stanley, de la Fe worked for 11 years at Lehman Brothers, where he was Managing Director of the Investment Management Division and Director of Business Development for Latin America. While at Lehman, de la Fe developed Lehman’s investment solutions distribution strategy for HNWI and family offices in Latin America.
He previously worked another 11 years for Merrill Lynch in London, New York, and Argentina, where he held the position of Regional Sales Director for LatAm. Also while at this company, de la Fe participated in the creation of company’s first trust and bank for international business in Latin America.
Ernesto de la Fe, of Cuban origin, began his career in private banking and investment at Chemical Bank, an institution which subsequently acquired JP Morgan.
The executive has a BBA from the University of Miami and an MBA from Thunderbird-Garvin School of International Management. In Miami, the city in which he has spent most of his career, Ernesto de la Fe is an active member of the Hispanic community and the healthcare sector, occupying the chair of the board of Miami Dade Public Health Trust.