Lia Yaffar-Pena, president at ES Financial Services, the brokerage
unit of Miami, FL-based Espirito Santo Bank, has left the firm to “pursue other
interests,” Family Wealth Report can
confirm.   

Yaffar-Pena was also senior vice president and head of the
bank’s wealth management division.

According to Espirito Santo Bank chairman and chief
executive, G Fredrick Reinhardt, Lionel Baugh was brought in as president of the
brokerage a month ago when Yaffar-Pena announced her departure.

Baugh joined from Global Strategic Investments, where he worked from 2009 until 2012 as president and chief executive. Prior to that he was director of sales and marketing for the Latin America division at Merrill Lynch. 

Espirito Santo Bank offers private and commercial banking
services to domestic and international clients, institutions and corporate
clients. It is a wholly-owned subsidiary of Banco Espírito Santo, Portugal,
and is part of the Espírito Santo global network.