The Brazilian investment management company Vitreo announced the coming of Francisco José Levy, ex-UBS and founder of the Allea management company, to the executive board. Levy will occupy the role of chief strategist, and Allea‘s partners and the team have also migrated with him, as well as the management company’s client portfolio.
The deal between Vitreo and Allea will bring BRL 500 million to Vitreo Wealth, the group’s wealth management arm, which ended 2021 with BRL 1.6 billion under management. According to Felipe Monteiro, head of this area, the boost in the team will be essential to achieve the department goal for this year, which is to reach BRL 2.6 billion in investments.
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“The meeting between Levy and Vitreo was very natural. The synergy was born from a search for a partnership to serve Allea clients and grew into something that will accelerate the growth of Vitreo’s wealth arm and offer more possibilities for the audience that was already served by Allea,” said Monteiro.
Founded in 2018, Vitreo was acquired by BTG Pactual in March 2021. The company reached its third anniversary last October and claims to have more than BRL 13 billion under management, more than 80 proprietary funds, and a client base of more than 100,000.
In an interview with LABS, Vitreo’s CIO, George Wachsmann, talked about the portfolio’s most recent launch: an investment fund in companies and cryptocurrencies related to the metaverse with investments starting at R$1,000.