Insigneo has hired a portfolio strategist from Colombian brokerage firm Corredores Davivienda.
Nicolás París Riaño has joined the Miami-headquartered wealth manager from Corredores Davivienda in Colombia.
He is joining Insigneo's Bogotá office, a source with knowledge of the move told Citywire Americas, and it is not yet known if Corredores Davivienda has hired a replacement.
In his new role at Insigneo, the result of the recent merger between Global Investor Services (GIS) and Northeast Securities, París is charged with analyzing client portfolio's asset allocation, advising on investment positions and risk, the source said.
París passes on his recommendations to the firm's wealth advisors but also meets with clients on occasion.
Before his time at Insigneo and Corredores Davivienda, París developed and executed investment strategies for client portfolios as a trader at Corredores Asociados, which Davivienda bought and rebranded in 2013.
He also served as a risk analyst at Corredores Asociados and at firms such as Fiduagraria, an asset manager linked to Colombia’s agriculture and rural development ministry.
An $8.5 billion shop
Officially launched in August, Insigneo is a broker-dealer with more than $8.5 billion in assets aiming to be among the top firms advising Latin American clients.
Raul Henriquez (pictured above), who founded GIS in 1989 and serves as Insigneo's chairman and chief executive, told Citywire Americas in August that he sees growing opportunities in the region as countries have clarified wealth disclosure regulations and as international players have scaled back their international businesses.
Based in Miami, Insigneo offers wealth and asset management, as well as multi-family office and institutional services, according to its website.
As of August, the firm had 120 advisors in Latin America. The firm's 15,000 clients come from countries such as Argentina, Brazil, El Salvador and Colombia, Henriquez told Citywire Americas.
To learn more about Insigneo and its growth plans, click here.