Argentine wealth management firm Puente has launched an offshore wealth management business in Miami and hired a local specialist to lead its new office.
The $3bn firm, whose clientele is based in Latin America’s Southern Cone, received US regulatory approval on November 6 to open an RIA and brokerage office in Miami which will be located on Biscayne Boulevard.
A spokesperson for the firm confirmed the news to Citywire Americas.
The Miami office will allow Puente to cater to wealthy Latin American clients who wish to have a portion of their wealth run out of the US through a fully regulated offshore hub.
Puente has hired Noemi Schaefer (pictured below) as the CEO of its new Miami business. Schaefer joins from Atlas Fintech, a Florida-based financial technology firm where she had been its chief compliance and anti-money laundering officer since October 2019.
‘As luck would have it, they were looking for someone to head their Miami office and help them navigate the regulatory landscape in the US,’ said Schaefer in an emailed statement.
‘I was looking to join a reputable and stable group during the uncertain times of the pandemic - so the timing was perfect.’
Schaefer added that she will initially be heading up a team of three Miami-based financial advisors and plans to hire more in the coming months.
The group also plans to open an affiliated office in Panama which will be headed by Gonzalo Spinedi.
‘One of the favorite parts of my career is being challenged to help build companies, departments and teams. This is all of that and more!,’ said Schaefer.
Prior to Atlas, Schaefer was the director of administrative services for IPG in San Diego and also spent four years at Insigneo, where she was a managing director within its compliance and risk division.
Puente was founded in 1915 in Buenos Aires, Argentina and has offices in Uruguay and Paraguay. The group has $3bn in assets under management and is led by Puente CEO Federico Tomasevich.