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Report: Brickell Bank acquires $40M trade portfolio from INTL FCStone

Miami-basedBrickell Bank bought a$40 million trade portfolio from New York-based INTL FCStone Inc., the South Florida Business Journal reported March 31, citing an email fromMargarita Angulo Levine, Brickell Bank's senior vice president and chief creditofficer.

The bank alsoadded a team of INTL FCStone finance and credit specialists in connection with theacquisition. The publication said senior vice president and head of trade financeMiguel Angel Burelo, trade operations manager Maria Fatima Parreira, trade financeoperations assistant Angelica Maria McNally and credit analyst Jose Bronstein havejoined the bank.

The publicationadded a statement from Brickell Bank's Chairman and CEO G. Frederick Reindhart,highlighting the bank's goal of augmenting core businesses, including trade finance.