New Office
Lowenhaupt Global Advisors Creates Miami Office With Senior Hire
The family office
Lowenhaupt Global
Advisors is opening an office in Miami, FL, to work with
families with
significant wealth in South Florida and Latin America.
Erik Halvorssen will lead the operation in
Miami, and has been appointed as a director of LGA. Halvorssen, a
native
Venezuelan, founded PAX Advisors, an independent wealth manager
based in Miami.
Before founding his own business Halvorssen held senior
international private
banking roles at Banco Venezolano de Crédito, Bank of America and
Banco Santander.
Prior to joining the financial services industry he was a
telecommunications
entrepreneur in Venezuela.
“Erik’s leadership and experience will
enable Lowenhaupt Global Advisors to serve the growing number of
wealthy individuals
and families in the US and in Latin America,” said Charles
Lowenhaupt, chief
executive.
The latest annual wealth report from the
Boston Consulting Group highlighted the divergence in growth
between “new” and “old
world” economies last year: there was a 10 per cent jump in
private financial
wealth in the Asia-Pacific region (excluding Japan), Latin
America, Eastern
Europe and the Middle East and Africa in 2011, compared to a
global average of 1.9
per cent.
Latin America particularly is home to an
unusually high number of UHNW individuals relative to its wealthy
population. It has a HNW population of around 0.5 million,
according to the Merrill
Lynch/Capgemini World Wealth Report 2011, but around
2.4 per cent of these count as ultra wealthy, compared to a
global average of
0.9 per cent.
