Vanguard Plans Miami Expansion to Tap More Latin American Wealth

Vanguard, one of the world’s biggest asset managers, plans to triple the size of its Miami team and expand elsewhere in the US to cater to Latin Americans looking to move more of their wealth offshore.

The firm’s Miami group is expected to grow to 15 people over the next five years from five currently, according to Juan Hernandez, Vanguard’s head of Latin America. The firm is also looking to expand its offshore services in the next 12 to 18 months in places including California and Houston.

Juan Hernandez

Photographer: Luis Antonio Rojas/Bloomberg

“US offshore is a really important hub for the wealth ...