Insigneo, a global wealth management firm, said that Insigneo Securities and Insigneo Advisory Services have agreed to acquire the Latin American (LatAm) consumer brokerage and investment accounts currently held by PNC Investments, PNC Managed Account Solutions, and PNC Bank.

Under the terms of the agreement, PNC will retain control over deposit and loan accounts, while customer assets within the brokerage and assets under management will transition to Insigneo. This shift underscores PNC’s commitment to continuing US banking services for their international clients while aligning with Insigneo’s vision.

For Insigneo, this acquisition marks a substantial milestone, fortifying its standing as a leader in the independent wealth management sector. The expansion extends Insigneo’s presence to the West, intensifying its presence among Mexican clients and establishing new operational footholds in Texas.

Clients of PNC’s Latin American brokerage and investment services can anticipate a seamless transition as Insigneo takes over. Insigneo’s specialised focus on the region and dedication to delivering enhanced services are set to benefit these clients significantly.

The acquisition not only propels Insigneo into new geographical territories but also signifies its unwavering commitment to delivering exceptional client services through cutting-edge technology and continuous innovation. As part of this acquisition, Financial Advisors, client service specialists, and key operational personnel will be invited to join Insigneo’s ranks.

The acquisition’s finalisation is anticipated to take place over the upcoming months. With this strategic move, Insigneo reinforces its position in the wealth management landscape and paves the way for further growth and client-centred services.

Insigneo Financial Group chairman and CEO Raul Henriquez said: “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.

“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”.