We are delighted to announce that Insigneo has successfully completed the acquisition of Riva Darno S.A.,  soon to be known as Insigneo Gestor International S.A., marking yet another significant milestone in our firm’s growth trajectory and reaffirming our dedication to continuity in the region.

Sebastian Ballester, former Director of Riva Darno S.A, will continue his association with Insigneo as an Investment Professional. Moreover, Sebastian will remain a shareholder of Insigneo within our advisor cohort with a permanent seat on the Partner Advisory Board in Uruguay. His ongoing focus on Insigneo’s success and strategic contributions will continue to shape the future direction, a testament to his belief in our vision and potential.

Assuming a new advisory responsibility to drive Insigneo’s growth in the Southern Cone, Sebastian will assist the M&A and Market Head teams in identifying growth opportunities within the region in a non-management capacity to ensure clarity and focus within the organization.

We are confident in his success and extend our best wishes to Sebastian in his new endeavors.


More about Insigneo


Over the past year, Insigneo has been taking steps to shore up its leadership team to help its expansion efforts. In May, the group hired Alfredo Maldonado to lead its business in New York and later recruited Carlos Mejia for the newly created role of head of M&A in September and  Michael Averett as chief revenue officer was also part of this initiative.

Insigneo also revealed it had added over 36 advisors to its international network in 2023, including several experienced advisors from Morgan Stanley as well as others from Merrill Lynch and Oppenheimer.

The firm’s growth push also saw it open four new US offices last year in Coral Gables, Fl., San Diego, Calif., San Antonio and Laredo, Texas, and one in Colombia in Cali. Insigneo also opened an office of supervisory jurisdiction (OSJ) in Houston, Texas, the group said.

These new locations are in addition to Insigneo’s existing US offices in Miami Fl., New York, N.Y., San José (Puerto Rico) and in Latin America in Montevideo, Buenos Aires, Santiago.

The Miami-based firm manages more than $24bn in assets and supports more than 440 advisors who cater to international clients, with a particular focus on wealthy investors in Latin America.

  • The acquisition expands Insigneo’s footprint to the West, representing a significant boost to its Mexican client base and adding new offices in Texas.
  • PNC’s Latin America brokerage and investment clients should expect a seamless transition and benefit from Insigneo’s focused approach and commitment to the region.

Insigneo, a leading global wealth management firm, is pleased to announce that Insigneo Securities, LLC and Insigneo Advisory Services, LLC have entered into a definitive agreement to acquire the Latin American consumer brokerage and investment accounts of PNC Investments, PNC Managed Account Solutions, and PNC Bank. PNC will retain the deposit and loan accounts of customers with brokerage assets and assets under management moving to Insigneo and will continue to support the U.S. banking needs of their international clients. This strategic move represents a significant milestone for Insigneo as it further solidifies its position as a leader in the independent wealth management industry.

With this acquisition, Insigneo will be opening new offices in Texas and expand its capabilities to serve a broader Mexican client base, while adhering to its mission of delivering exceptional client service, enabled by state-of-the-art technology, and driven by continuous innovation. The Financial Advisors and client service specialists as well as selected employees that support the operations will be invited to join Insigneo.

“The acquisition of PNC’s Latin American brokerage and investment operations further cements Insigneo’s position in the Americas as a leader in international wealth management,” said Raul Henriquez, Chairman and CEO of Insigneo Financial Group. “We are committed to the region with our strategy of empowering investment professionals to deliver excellent service and compelling investment strategies and solutions to clients globally”.

The acquisition is expected to close in the coming months.

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