Spain-based multinational financial services company, BBVA Group, has opened a new subsidiary office in Miami, Florida, USA.
The expansion aligns with BBVA’s strategy to enhance its wealth management offerings globally.
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The new venture, BBVA Global Wealth Advisors Inc, aims to provide specialised investment advisory services to high-net-worth individuals from Latin America.
According to Murat Kalkan, head of BBVA Global Wealth Advisors: “Establishing our own US-based investment advisory service for the Group’s high net worth clients is a critical component to our value proposition in our service to these clients. Launching this service in the biggest wealth management market in the world will allow us to strongly complement the Group’s overall offering in this space and address a highly demanded need of our clients across various geographies of our footprint.”
The service will target non-US resident clients with assets under management (AUM) of at least $500,000, offering non-discretionary portfolio management services, advisory, and wrap fee accounts.
In November 2023, BBVA expanded its presence in the USA by relocating to a new, larger office premises in New York City.
Headquartered in Bilbao, Banco Bilbao Vizcaya Argentaria SA, d/b/a BBVA, is a financial institution that offers retail banking, private banking, asset management, wholesale banking, and other related financial solutions. It has around 115,000 employees and 89 million customers worldwide.
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