Brasil Business news

Principal hires trade vet to go Brazil funding biz

Principal Monetary Group has employed Robert van Dijk because the CEO of its enterprise in Brazil because it goals to broaden the attain of its international pension fund and asset administration models, the agency introduced this week.

Van Dijk has greater than 40 years’ expertise within the monetary providers trade and joins from Hieron Household Fairness and Investments, a São Paulo, Brazil-based household workplace and wealth supervisor which he helped present in 2019.

Within the newly created submit, Van Dijk has been handed a mandate to boost the group’s long-term technique in Brazil whereas additionally main Principal’s enterprise traces within the nation which embody Claritas, its life insurance coverage unit with greater than $714bn in property underneath administration; Brasilprev, its non-public pension plan supplier; and Ciclic, a digital insurance coverage brokerage platform.

Van Dijk stories on to Roberto Walker, president of Principal Latin America, and Pat Halter, CEO of its asset and funding supervisor Principal International Buyers.

He started his profession in finance in 1978 with Schain Cury Corretora – now Valores Mobiliarios S.A. – the place he spent 20 years. He has additionally held roles with Bradesco, the place he labored from 1998 to 2009 and Banco Votorantim the place he spent 9 years, in line with Principal.

Van Dijk additionally served as president of the Brazilian Monetary and Capital Markets Affiliation (ANBIMA) from 2016 to 2018.

‘Because the Brazilian market has grown, demand from our prospects for international funding merchandise has grown with it,’ stated Dan Houston, president and CEO for Principal Monetary Group.

‘Robert brings great expertise to Principal with deep roots in Brazil. Including him will speed up our plans to evolve and develop our enterprise in Brazil to develop into a market chief in asset administration simply as we already are in non-public pension options on behalf of two.5 million Brazilian prospects’ he added.

Principal has been in Brazil since 1999 when it launched a three way partnership with Banco do Brasil Brasilprev. Later in 2012, it expanded into the nation’s asset administration trade following its buy of Claritas Investimentos, wholly owned by the group.

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