Roberto de Souza Barros, founded the brokerage in 1928, and his son, Marcos de Souza Barros, controls the firm today. Souza Barros has about R$450 million in assets and 52 employees.
One of the oldest and most traditional Brazilian securities firms, Souza Barros is stopping its operations as brokerage. The company has decided to shift its business model and focus of operation, not only stopping to operate as brokerage, but concentrating on another country. The firm will devote its attentions exclusively to its Souza Barros Securities unit in Miami.
In the beginning, when Brazil was a highlight abroad, the international project aimed essentially to serve foreign investors who wanted to invest in the country. The financial crisis, however, affected the plans and forced the firm to seek another path.
The international platform gives access to companies listed in American, European and Asian markets, bonds denominated in dollars and euros and to the distribution of foreign mutual funds. Most of the assets under management today are allocated in fixed-income products, mainly debt of Brazilian and American companies. Because of this, the firm has decided to keep the department of stock research in Brazil.
Here, of the 2,000 active clients, 1,800 are individual investors and will now be served by Rico Corretora. The portfolios of the other 200 institutional clients will be transferred to Planner. Souza Barros declined to comment if it would receive some payment for these transfers.
The changes have been communicated to clients in May 2015. Souza Barros continues as a registered broker in Brazil. In 2013, it had already migrated to the “trading participant” model, using Brasil Plural as gateway in the stock exchange.
(Fonte: jornal Valor online - 13.05.2015)
One of the oldest and most traditional Brazilian securities firms, Souza Barros is stopping its operations as brokerage. The company has decided to shift its business model and focus of operation, not only stopping to operate as brokerage, but concentrating on another country. The firm will devote its attentions exclusively to its Souza Barros Securities unit in Miami.
Behind the decision is the delicate scenario faced by most Brazilian brokerages since the global financial crisis. Souza Barros had losses from 2011 to 2014. “The intermediation segment in Brazil is very solid, but the name of the game is to make money, and we were not making money,” says Carlos de Souza Barros, grandson of the founder and head of new business and asset management at the firm.
Eyeing potential for investment diversification, the group intends to serve Brazilian clients interested in going international and Latin Americans already with experience abroad. Souza Barros aims to provide wealth-management services abroad. With a structure set up in the US in 2008, the firm managed late last year about $250 million, with a team of five people.In the beginning, when Brazil was a highlight abroad, the international project aimed essentially to serve foreign investors who wanted to invest in the country. The financial crisis, however, affected the plans and forced the firm to seek another path.
The international platform gives access to companies listed in American, European and Asian markets, bonds denominated in dollars and euros and to the distribution of foreign mutual funds. Most of the assets under management today are allocated in fixed-income products, mainly debt of Brazilian and American companies. Because of this, the firm has decided to keep the department of stock research in Brazil.
Here, of the 2,000 active clients, 1,800 are individual investors and will now be served by Rico Corretora. The portfolios of the other 200 institutional clients will be transferred to Planner. Souza Barros declined to comment if it would receive some payment for these transfers.
The changes have been communicated to clients in May 2015. Souza Barros continues as a registered broker in Brazil. In 2013, it had already migrated to the “trading participant” model, using Brasil Plural as gateway in the stock exchange.
(Fonte: jornal Valor online - 13.05.2015)
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