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Andbank bolsters Miami team with senior LatAm traders

Andbank has hired two senior traders from US clearing firm INTL FCStone for its Miami team. Marcelo Lima and Rodrigo Steiner are set to join Andbanc Brokerage, which serves the group’s private banking clients, in mid-September. At INTL FCStone they were vice presidents of trading leading the Brazilian corporate bonds desk, Andbank said, catering to family offices, private banks, hedge […]

Andbank has hired two senior traders from US clearing firm INTL FCStone for its Miami team.

Marcelo Lima and Rodrigo Steiner are set to join Andbanc Brokerage, which serves the group’s private banking clients, in mid-September.

At INTL FCStone they were vice presidents of trading leading the Brazilian corporate bonds desk, Andbank said, catering to family offices, private banks, hedge funds and institutional clients in the US and Latin America.

In the past, the duo has worked at firms such as Ultralat Securities and Brazil’s Eurovest Securities, among others.

‘[Lima and Steiner’s] knowledge of the Brazilian market fundamentally and their experience forged over many years both in the onshore and offshore markets in LatAm reinforces Andbank’s strategy in the region,’ the firm said.

In other recent moves, the firm hired two bankers in Brazil and signed a partnership with a local wealth management firm. Andbank also brought on a product development head for its Mexico team.
Earlier this year, the firm said it was looking to grow its Miami assets by 50% to $1.5 billion.

Andbank’s private bank runs $27 billion in 11 jurisdictions, including $6 billion for non-institutional Latin American clients, the firm said. In total, the Andorra-based firm is present in five Latin American countries.