Old Mutual Global Investors has entered a distribution agreement with Aiva in Uruguay to help broaden the business’s sales capability through third party channels in the US Offshore and Latin American markets.
Headquartered in Montevideo, Aiva is a Latin-America platform business. Over the last 16 years, it has provided savings solutions and long-term investments to clients in Latin America, as well as administration services to Old Mutual in the region.
Old Mutual acquired a majority stake in Aiva in November 2012.
As part of this agreement, OMGI will be serviced by three dedicated sales professionals who will support Chris Stapleton, head of Americas Offshore Distribution.
Veronica Rey and Santiago Sacias will operate from Montevideo, with Rey providing day-to-day field sales coverage in the cross-border investment hub in Uruguay, as well as a regular presence in Chile, Brazil and Argentina. Santiago will be supporting the efforts of both Veronica and the wider team as an investment analyst and broker desk consultant.
Andres Munho will operate initially via a satellite presence in Miami, Florida, USA and, from 2015, will be based out of a local office in Miami’s financial district. Andres’s distribution coverage will encompass the gateway offshore investment hubs in South Florida and Texas, as well as Northern Latin America, which includes Mexico, Panama, Colombia, Peru and Venezuela.
Warren Tonkinson, head of Global Distribution, commented: “This new agreement demonstrates that Old Mutual Global Investors is committed to expanding its international footprint. After investing in the strengthening of our Hong-Kong based team over the last year, we are now delighted to have finalised this Distribution Agreement with such a well-respected and successful company in AIVA, a sister company within our parent company.
Old Mutual Global Investors recently announced key investment and distribution hires. Joshua Crabb has been appointed head of Asian Equities, supported by a new team of two investment analysts.
Ian Ormiston has joined as a European Smaller Companies Portfolio Manager and Russ Oxley and his Fixed Income – Absolute Return team will join in 2015. In addition, Allan MacLeod joined the company as head of International Distribution in November to spearhead Old Mutual Global Investors’ international growth plans.