Insigneo announces that Insigneo Securities, LLC and Insigneo Advisory Services, LLC have entered into a definitive agreement to acquire the Latin American consumer brokerage and investment accounts of PNC Investments, PNC Managed Account Solutions, and PNC Bank.
PNC will retain the deposit and loan accounts of customers with brokerage assets and assets under management moving to Insigneo and will continue to support the U.S. banking needs of their international clients. This strategic move represents a significant milestone for Insigneo as it further solidifies its position as a leader in the independent wealth management industry, the firm said.
With this acquisition, Insigneo will be opening new offices in Texas and expand its capabilities to serve a broader Mexican client base, while adhering to its mission of delivering exceptional client service, enabled by state-of-the-art technology, and driven by continuous innovation, the company added.
“The acquisition of PNC’s Latin American brokerage and investment operations further cements Insigneo’s position in the Americas as a leader in international wealth management,” said Raul Henriquez, Chairman and CEO of Insigneo Financial Group. “We are committed to the region with our strategy of empowering investment professionals to deliver excellent service and compelling investment strategies and solutions to clients globally”.
The acquisition is expected to close in the coming months.
