Independent broker-dealer Insigneo has hired its third advisor in a month as it continues to boost its Latin American business.
On Friday it welcomed Luiz David Azambuja, most recently with Miami firm Capital Guardian, as a senior vice president, financial advisor. Azambuja previously managed $100 million in client assets mainly from Brazil.
Azambuja spent the last six years at Capital Guardian, which in September last year closed its brokerage business and transferred it to Fort Lauderdale-based Kovack Securities.
Prior to that Azambuja was an advisor for a number of securities businesses in Miami, including a short stint with Global Investor Services (GIS) from 2011 to 2012, according to Finra's Brokercheck.
He launched his career over 37 years ago with Banco National in Rio de Janeiro and in 1987 transferred to the Miami branch of the bank. He also conducted business development for UK group Lloyds TBS Bank in the area of corporate and private banking clients in Miami from 1997 to 2000.
This marks Insigneo’s third advisor recruitment announcement in a month and fourth overall as it continues to expand its business.
Last week, Insigneo revealed the hire of Manuel Diaz Collazo from Santander Securities. It also hired Citi Personal Wealth Management advisor Jose Omar Rodriguez at the end of January. Prior to that it hired an anti-money laundering expert and legal industry veteran as its chief risk officer.
Insigneo is the product of the merger of Hencorp Group, which included broker-dealer GIS, and Northeast Securities. The deal closed in August 2017. It offers wealth and asset management, as well as multi-family office and institutional services, primarily to international clients.
In September, Insigneo told Citywire it was ‘doubling down’ on its commitment to Latin America.
Capital Guardian declined to comment on Azambuja’s exit. While the firm’s broker-dealer is listed as expelled on regulator Finra’s Brokercheck, sources at the firm said it is a result of a mistake as the firm withdrew in July 2017 and moved to Miami from North Carolina. The firm continues to operate as an RIA in Miami.