Itau International Securities Inc. (Miami)

Itau International Securities Inc. is a large advisory firm based in Miami. It manages $130.62 million of regulatory assets for 37 client accounts. It has been registered with the SEC as an adviser since 2017 and has operated in the jurisdictions of Florida and New York.

Itau International Securities provides portfolio management for individuals and small businesses, portfolio management for pooled investment vehicles, and family office services. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.

Itau International Securities: assets under management

The assets under management (AUM) of Itau International Securities Inc. is $130.62 million. $51.71 million of the total AUM is attributable to clients outside of the United States.

Investments

The firm invests in investment and business development companies the most. They account for 33% of the total AUM. The second-largest asset type is exchange traded securities, which make up 33% of the firm’s portfolio. Investments in government bonds form 15% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Itau International Securities Inc. for their services and products based on a percentage of assets under management and performance-based fees. The adviser charges an additional fee when a set benchmark is outperformed. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Flavio Augusto De Souza serves?

The firm provides services to high net worth individuals and pooled investment vehicles. The largest group of clients of Flavio Augusto De Souza is high net worth individuals with 4 clients and $78.92 million of assets under management. Among the 12 most similar advisory firms, Itau International Securities has the 5th highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $130.62 million for 5 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. 20% of the firm’s clients are foreign persons or businesses.

Itau International Securities also advises several private funds.

Careers at Itau International Securities Inc.

The company employs 14 people that are either part- or full-time employees. 100 percent of the employees work as investment advisers or researchers. 14 employees are registered as investment adviser representatives with the state securities authorities.

There isn’t anyone with the role of looking for and bringing in new clients on behalf of the firm. The firm doesn’t compensate employees in addition to the salary for bringing in new clients. Employees don’t receive compensation from other entities for client referrals.

Flavio Augusto De Souza has been acting as President since 1 Jan 2010. Paul A Vergara joined the executive team most recently as the Head Trader.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
David Ross Portnoff	Chief financial officer, finop	1 Mar 2007	Other	2977967
Flavio Augusto De Souza	Director	1 Jan 2010	Other	5821463
Itau Bba International Plc	Direct owner	1 Feb 2013	75% - 100%	foreign
Luis Fernando Brasil De Oliveira	Chief administrative officer	1 Aug 2014	Other	5652832
Roberto Rodrigues Martins	Executive representative	1 Dec 2014	Other	4442885
Renato Lulia Jacob	Director	1 Jan 2016	Other	6608173
Carlos Fernando Rossi Constantini	Director and chairman	1 Jan 2017	Other	4633731
Sara Catalina Gaitan	Chief compliance officer and anti-money laundering compliance officer	1 Jun 2017	Other	4733588
Gustavo Fraga Abrunhosa	Head of itau international securities bahamas branch	1 Mar 2018	Other	5862346
Carlos Alberto Villela	Principal operations officer	1 Sep 2018	Other	5882274
Fernando Mattar Beyruti	Director and chairman	1 Jan 2019	Other	6629310
Paul A Vergara	Head trader	1 Apr 2019	Other	5043196
Carlos Rogerio Da Silva Souza	Director	1 Apr 2019	Other	7077442

Indirect Owners

The SEC currently registers 7 indirect owners.

Name	Entity	Date acquired	Ownership	Employer ID
Sgps Lda. Itausa Europa Investimentos	Indirect owner	1 Mar 2007	75% - 100%	foreign
Itb Holding Brasil Participacoes Ltda.	Indirect owner	1 Mar 2007	75% - 100%	foreign
Sgps Unipessoal Lda. Itausa Europa Investimentos	Indirect owner	1 Mar 2007	75% - 100%	foreign
Itau Unibanco Holding S.A.	Indirect owner	1 Nov 2008	75% - 100%	foreign
Itau Unibanco S.A.	Indirect owner	1 Nov 2008	75% - 100%	foreign
Itb Holding Brasil Participacoes Ltda.	Indirect owner	1 Nov 2018	75% - 100%	foreign
Itau International Holding Limited	Indirect owner	1 Nov 2018	75% - 100%	foreign

Based in Miami

The principal office where Itau International Securities Inc. performs its advisory services is located at 200 S. Biscayne Blvd, Miami, FL 33131, which is also the mailing address of the firm. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 305-416-7813. The normal business hours are 8:00 am - 5:00 pm on Monday - Friday.