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EFG Miami trio exits to form $500m team on Insigneo network

EFG Miami trio exits to form $500m team on Insigneo network

Carlos Estima, the vice chairman of EFG Capital International in Miami, has joined forces with a former colleague to build an independent advisory firm on Insigneo’s network that will cater to high net worth Latin American clients.

Estima has teamed up with Enrique Jocelyn-Holt, the former head of EFG’s private client business who joined Insigneo in July, to launch the business, according to a spokesperson from Insigneo.

Estima, who had been at EFG for more than 12 years, exited the firm on November 6 along with private banker Bernardo Lucena and client services officer Renata Mussalem, according to BrokerCheck.

Lucena, who managed a $100m book of mostly Brazilian clients while at EFG, has joined the new group as an advisor while Mussalem has joined as an assistant vice-president. The two had been at the Swiss firm for 11 years and 6 years, respectively.

Insigneo’s spokesperson added that Estima and Jocelyn-Holt’s team currently has six independent advisors that oversee over $500m in assets.

At the time of Jocelyn-Holt’s arrival, Javier Rivero, Insigneo’s chief operations officer said that he would look to cover clients in Colombia, Ecuador, Peru and Chile.

Jocelyn-Holt left EFG in December of last year and was on a sabbatical until joining Insigneo over the summer.

Insigneo’s independent advisor platform provides back office and legal support for a network of over 165 independent financial advisors as of the end of June. In total, the firm oversees around $9bn in client assets across both its in-house advisory and independent network.

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