In connection with the alliance, BRV plans to open an office in Florida. The alliance is expected to allow both firms leverage their resources and expand the financial services and investment products offered to their respective clients with a more comprehensive global perspective.
Specifically, BRV is expected to gain access to growing markets in the Caribbean and Latin America and its US operations will have a Caribbean financial partner, which will allow BRV to participate in a number of corporate and municipal bond underwriting activities.
CCFG, in turn, will gain access to BRV’s distribution capabilities in the US, its equity research and portfolio advisory platform (ELROI), and its portfolio strategy team and asset managers.
BRV expects to finalize terms of the alliance and open its Ft Lauderdale office before the end of the first quarter. As part of the alliance, Capital & Credit Holding, a CCFG affiliate, will invest in and acquire a minority equity position in BRV.
Eric Van Standifer, president and CEO of BRV, said: “We see a tremendous opportunity in the Caribbean to fill a void left in the wake of two global investment banks dramatically reducing their presence in the region last year.
“Capital and Credit Financial Group is one of the premier providers of financial services in the Caribbean and our firms maintain similar high standards for excellence and client service. Opening an office in Fort Lauderdale underscores BRV’s commitment to this joint venture.”
