U.S., Swiss Firms Open Office In Spain
Southern Trust Securities Holding Corp., has opened offices in Spain as part of a joint venture with Swiss Financial Group International Private Wealth Management (IPWM), SA.

The new joint venture company, IPWM, Espana S.A. (IPWM Spain), is owned 50% by STSHC and 50% by the Swiss Financial Group IPWM, SA. IPWM Spain has been established to capitalize on the growing wealth management and private banking market in Spain. The new company will focus on developing retail banking, corporate banking, private wealth management and brokerage businesses. The offices are in Barcelona, San Sebastian and Marbella.

STSHC’s CEO Robert Escobio says Spain is a growing market for the firm and the new offices there will help STSHC broaden its European asset base. Giulio Ceriani and Jairo Espinosa, managing directors of IPWM, SA, add that offices in Spain are a natural expansion of their firm’s Swiss operations.

STSHC, based in Coral Gables, Fla., offers securities brokerage, investment banking, asset management and private wealth management for retail, institutional, corporate and high-net-worth clients primarily in Latin America and Asia. STSHC services include access to international investment opportunities in the United States and foreign capital markets, offshore entities for financial planning and cross-border transactions, including private placements bridge financing and reverse mergers into publicly traded shell corporations.