Alliance Investment Management, a subsidiary of Benchmark (Bahamas), has linked up with Bajamar Consulting Srevices in a bid to grow its client base and profits through making in roads into the Latin American wealth management market, a region left largely untouched by many Bahamian financial service providers.
Leslie Moss, Bajamar’s president, said the company had initially been contracted for a period of six months, which began on March 1, to pave the way for Alliance to establish s foothold in the Latin American market because of its expertise, familiarity with the region and language capabilities.
Bajamar is already aligned with key strategic partners in the South American marketplace and has the option of extending the Alliance contract if both parties are satisfied the venture is proving profitable.
A partnership of equals, which Mr. Moss describes as working perfectly, Alliance provides the facilities and tools Bajamar needs, in addition to covering fax and telephone costs. Alliance pays them a monthly fee, and the two are expected to split any income generated from the business relationship.
Alliance has given Bajamar the resposibility for the South American region and has backed away from the day-to-day work involved in implementing a marketing campaign, allowing Bajamar to spearhead the initiative and run with it.
A former employee of Lloyds TSB Bank (Bahamas), Mr. Moss said he and Benchmark’s president Julian Brown, have a relationship that goes back many years to when both worked at that institution.The two brought in some $55 million worth of business over an eight month period, $40 million of which came from Brazil. The current partnership is described as natural return to a successful formula.
The partnership between Alliance and Bajamar will also extend to the companies’ web sites. Alliance will have an online link that connects Latin American visitors to the Bajamar site, which will have content in their own language. Bajamar’s web site will be initially set up in English, but will shortly be available in both Spanish and Portuguese. Visit the Alliance Investment Management web site at this link:
www.allianceinvest.com
Source: Yolanda Deleveaux, The Tribune
