Sanctuary launches firm aimed at Latin American clients

Sanctuary Wealth, an Indianapolis-based wealth management firm, has launched Diagonal Investment Office, a Miami-based firm created to serve the needs of ultra-high-net-worth Latin American clients who invest in the U.S.

The firm, led by managing partners Rodolfo “Rudy” Rake and Santiago Rey, starts with $200 million in assets under management.

“With Diagonal, we are taking a U.S. fee-based model of fiduciary wealth management that leads with financial planning and adapting it to our Latin American clients,” Rake said in a statement. “For these and more reasons we differ from a typical family office.”

Rake, who was ranked the No. 1 college tennis player in the U.S. and later was a professional tennis player, joined Sanctuary Global, a unit of Sanctuary Wealth, in 2021 after 15 years with Morgan Stanley and a predecessor firm. He has specialized in serving Latin American investors.

Santiago Rey, who spent seven years with J.P. Morgan Securities, was most recently a partner with GAMNIC Family Office and founder of Accorde Invesiones Familiares (Accord Family Investments) in Lima, Peru.

[More: Miami duo managing $400 million moves to Sanctuary from Insigneo]

Related Topics: Sanctuary Wealth