Background on Vector Global and its Controversies
Vector Global, a subsidiary of Vector Casa de Bolsa, was accused by the US Department of Treasury for allegedly money laundering related to opioid trafficking. The parent company, Vector Casa de Bolsa, was founded by Alfonso Romo Garza and faced financial isolation from the US along with Intercam and CIBanco due to suspicions of money laundering favoring drug trafficking.
Insigneo’s Acquisition of Vector Global
On Tuesday, Insigneo Financial Group, an independent international wealth management firm based in the US, acquired Vector Global. The deal includes transferring over $4 billion in client assets from Colombia, Chile, Mexico, Ecuador, Peru, Venezuela, the US, and Canada.
This acquisition will enable Insigneo to manage nearly $35 billion in total assets under administration.
Regulatory Approvals and Timeline
The transaction is subject to standard regulatory approvals, and it is expected to close in the first quarter of 2026. The terms of the deal have not been disclosed.
Insigneo’s Perspective
Raúl Henríquez, CEO and Chairman of Insigneo’s Board of Directors, emphasized that this acquisition marks a significant milestone in Insigneo’s growth strategy.
“With this acquisition, we will strengthen and expand our geographical presence, bolster our team to better serve our clients, and reaffirm our commitment to Latin America,” Henríquez stated.
Impact of US Sanctions on Vector
In June, Vector Casa de Bolsa was sanctioned by the US Department of Treasury for allegedly money laundering. The Financial Crimes Enforcement Network (FinCEN) designated Vector, along with CIBanco and Intercam, as institutions of primary concern for allegedly money laundering related to fentanyl and opioid trafficking.
Insigneo’s Growth Strategy in Latin America
Insigneo highlighted that the Vector Global acquisition aligns with its growth plan in Latin America. Since 2022, Insigneo has completed three major transactions: acquiring Citi’s international businesses in Puerto Rico and Uruguay, and integrating PNC’s offshore accounts a year later.
“Insigneo’s success is built on its advisor-centric model, pan-American and multicultural DNA, and continuous investment in technology,” the company stated.
Partnership with Casa de Bolsa Finamex
The acquisition also includes a three-year partnership between Insigneo and Casa de Bolsa Finamex, which recently agreed with Vector to add its assets, clients, investment funds, and some of its workforce to Finamex’s portfolio.
Transition of Client Accounts
Casa de Bolsa Finamex will officially take control of accounts, balances, and 21 investment funds previously part of Vector Casa de Bolsa. These will now be included in Finamex’s portfolio.
Vector informed its clients that their accounts and balances will be available through Finamex starting October 21, ensuring uninterrupted operations.
“For over five decades, we have been by our clients’ side, safeguarding their assets and accompanying them in every step. Due to our agreement, starting from tomorrow, your accounts and balances will be managed by Finamex,” Vector communicated to its clients.
