Old Mutual Global Investors has inked a distribution agreement with Uruguay-based AIVA to broaden the availability of its fund range in the US and Latin American offshore market.
AIVA has been offering saving solutions and long-term investments to clients in Latin America from the last 16 years and also provided administration services to Old Mutual.
Old Mutual bought a majority stake in AIVA in November 2012.
The agreement will enable Old Mutual to leverage the existing infrastructure and local marketing knowledge of AIVA to boost growth and asset base in the Latin American market.
Under the deal, Old Mutual will be serviced by three sales professionals- Veronica Rey, Santiago Sacias, and Andres Munho.
The trio will support Chris Stapleton, designated as the head of Americas offshore distribution.
Rey and Sacias will operate from Montevideo, with Rey responsible for delivering day-to-day field sales coverage in the cross-border investment hub in Uruguay, and a regular presence in Chile, Brazil and Argentina.
Sacias will serve as an investment analyst and broker desk consultant, and will support efforts of Rey and the wider team.
Andres Munho will initially operate via a satellite presence in Miami, Florida, US and will be based out of a local office in the financial district in Miami from next year.
Munho’s distribution coverage will include gateway offshore investment hubs in South Florida and Texas, and Northern Latin America including Mexico, Panama, Colombia, Peru and Venezuela.