AllianceBernstein (AB) has hired MFS Investment Management’s Andes director Ignacio Fuenzalida to lead its new Santiago office, Citywire Americas can reveal.
Fuenzalida joined AB last week after three years as a sales director for the Andean region at Boston-headquartered MFS.
Miguel Rozensztroch, head of Latin and Central America and NRC client group at AB, confirmed Fuenzalida will now be AB’s regional manager for the Andes, handling client relationships in Chile, Peru and Colombia.
‘We've had a successful business in the Andes for many years but I personally feel the evolution of the market and the opportunities we have in both retail and institutional segments warrants a local presence there,’ Rozensztroch told Citywire Americas.
‘[With the hire of Ignacio] we have the ability to do that now. [I am] thrilled to have a local expert that brings over 10 years of experience to AB, including five years working at pension funds and more than six years at two other global investment managers.'
Previously, AB distributed in Chile through third-party distributor Vision Advisors. Rozensztroch said Fuenzalida will continue to work with the firm.
The Chile office marks the New York-based firm’s fourth office in Latin America. It has locations in Brazil, Mexico and Argentina.
'Latin America has been a high growth market for us. The opening of an office in Santiago and hiring of Ignacio, is in line with our business plans and commitment to the region,' Rozensztroch added.
Prior to joining MFS in March 2014, Fuenzalida oversaw Latin American fund distribution at JP Morgan Asset Management. He also had stints at Cruz Del Sur AGF and AFP Provida.
A spokesperson at MFS confirmed that Enrique Perez Iturraspe, an associate regional manager, will continue to support the firm’s efforts in the Andean region.
He added that the firm has already begun a search for an additional person to join the Andean team.