Business
Inter&Co Announces that FINRA Approved Inter&CO Securities LLC to Operate as a US Broker During Nasdaq’s Opening Bell Ceremony
Inter can now offer a diverse range of international investment products to over 26 million customers, including fixed income assets, funds, managed
About this update from Inter & Co. Inc.
[{"type":"text","content":"Inter can now offer a diverse range of international investment products to over 26 million customers, including fixed income assets, funds, managed portfolios, and advisory services\nBELO HORIZONTE-MG, Brazil, May 12, 2023 (GLOBE NEWSWIRE) -- Inter&CO Securities, a subsidiary of Inter&Co (NASDAQ: INTR | B3: INBR32) – the holding company of Inter Group – has been granted approval by the Financial Industry Regulatory Authority (FINRA) to operate as an investment broker in the United States. The announcement was made during Nasdaq's Opening Bell ceremony on Friday, May 12, and marks a significant step in the company’s plans to bring its successful model and platform to the US. The new development will enable Inter’s customers to access a broader range of international investments beyond equities, REITs, and ETFs, which have already been available for almost a year and attracted around 250,000 customers. The success of the current offering, which allows Brazilian users to invest directly in the world's largest companies listed on The New York Stock Exchange (NYSE) and Nasdaq exchanges, served as a key factor for the company’s decision to expand its offerings. “Now, with US brokerage capabilities, Inter can provide more investment opportunities for customers and this expands the accessibility of the company’s investment portfolio products from Brazil to the United States,” said Inter&Co's CEO João Vitor Menin. “We were the first Brazilian company in the financial sector to enable direct international investments, seamlessly integrated within our Super App used in Brazil, and now wish to grow our successful platform in the United States with a thoughtful, measured approach.” Felipe Bottino, director of Inter Invest, will be based in the US to oversee the expansion of Inter&Co’s brokerage capabilities. \"Initially, beyond our equities services, we will provide additional fixed income and investment funds, most of them managed by Inter Asset, bringing together well-established expertise in fixed income and real estate strategies,\" said Bottino. Bottino will join Cassio Segura, the lead on all US Inter operations and executive partner of the recently acquired YellowFi. Bottino will also work alongside John Torola, who will lead brokerage operations. Torola has more than 20 years of experience at FINRA and previously served as chief com...