FRENCH COMPANY EXPANDS
Ovrsea, a French freight-forwarding software company, launched its U.S. headquarters in Miami in January. With offices in France, Spain, Italy, and the U.S., Ovrsea serves over 1,000 clients and handles up to 15,000 containers a year between 80+ countries.
CANADIAN AVIATION DEAL
Canada-based aviation services provider Skyservice Business Aviation has completed its purchase of the majority share of Miami FBO Fontainebleau Aviation. The sale is part of its recent expansion into the U.S. and will bring the company to 13 locations in North America.
SWISS FIRM OPENS MIAMI HQ
Swiss real estate investment and development firm Empire Group has relocated its North American headquarters to Downtown Miami. The Group has about $9.8 billion in assets under management, with offices in Germany, Luxembourg, U.K., Sweden, Austria, and the UAE.
NORWEGIAN PLEASURE TECH
Norwegian-based Ohdoki, a tech sex toy startup, opened its U.S. headquarters in Miami. The company plans to add more employees to serve its American market while keeping a majority of its team in Norway.
SOLAR ENERGY INVESTMENT
Miami-based investment firm I Squared Capital has made its first investment in Brazil after opening an office in Sao Paulo. The firm made a $400 million investment to Órigo Energia to fund the construction of more than two gigawatts of solar energy projects in Brazil. I Squared has more than $38 billion in assets under management.
MEDIA HUB OF THE AMERICAS
The Media Hub of the Americas inaugurated its first permanent home in Miami. The hub is a part of the Department of State’s Bureau of Global Public Affairs that engages major Spanish and Portuguese language media outlets to communicate U.S. policy to audiences throughout the region.
AIRLINE MERGER BLOCKED
A Federal judge blocked JetBlue Airways’s proposed $3.8 billion purchase of Miami-based Spirit Airlines, arguing it would reduce competition and hurt consumers. Both airlines will appeal the judge’s ruling.
FUNDING ENTREPRENEURSHIP
JPMorgan Chase has committed $500,000 to Endeavor Miami to support programs for underrepresented entrepreneurs in South Florida. Endeavor is a global nonprofit to help entrepreneurs scale up in the U.S. marketplace.
WTC MIAMI’S INTERNATIONAL ACHIEVEMENT AWARD
The World Trade Center Miami recently honored Latin American insurance pioneer Mike Carricarte with its International Achievement Award for service to the international community. Carricarte was CEO of Miami-based Amadex, the largest provider of health insurance to the Americas, and is currently behind the launch of Olé trans-Latin life insurance provider.
MIA IMPROVEMENTS
At a press conference last month, Miami-Dade County Mayor Daniella Levine Cava announced that $7 billion will be put into capital infrastructure investment at Miami International Airport, with another $1.7 billion in maintenance.
MSC GROUP EXPANDS
MSC Group announced it will build a $100M North American Headquarters in Downtown Miami for its cruise division. This development will generate 668 direct and indirect jobs over the next three years and produce $65.2M annually in economic impact. The Cruise Division is also building a new cruise terminal at PortMiami, which will be North America’s largest once it’s completed later this year.
REMITTANCES TO MEXICO
Viamericas Corporation, a Miami-based licensed, international remittance company, has recently integrated with 24Xoro to provide additional options for remittance beneficiaries to receive money in Mexico. 24Xoro is a licensed money transmitter company based in Mexico.
CHINA CARGO POSTPONED
China Cargo Airlines has delayed its scheduled freighter service to Miami until April. This service will mark the first direct route between the South Florida and mainland China. In December, Worldwide Flight Services announced the launch of three weekly flights this month using Boeing 777s from Miami International Airport to Shanghai.
ARCHITECTURE FIRM ACQUIRED
Miami-based Bermello Ajamil & Partners, a full-service architecture firm, has been acquired by Woolpert. Woolpert is an international architecture firm with over 60 offices across 4 continents; Bermello Ajamil is known for its designs of overseas seaports and airports.
CITADEL: TOP HEDGE FUND
Ken Griffin’s Citadel has been named the world’s top hedge fund for the second consecutive year. With record-breaking profits of $8.1 billion in 2023, following a $16 billion windfall in 2022, Miami-based Citadel has had $74 billion in gains since its start in 1990.
INSURANCE FROM THE UK
UK-based insurance specialist Kennedys has expanded its presence by opening its 10th U.S. office in Fort Lauderdale. The move is aimed at better serving their yacht and marine clients. Four insurance coverage lawyers from Kennedys’ Latin America hub in Miami will relocate to the new office to be closer to clients in the region.
GLOBALX COLOMBIA
Miami-based GlobalX Airlines, a U.S. charter and cargo carrier, is expanding in Latin America with a new freighter service called GlobalX Colombia. Based in Bogota, it aims to start flights in April, pending approval.
GLOBAL ACADEMIC PARTNERSHIPS
Florida International University has signed an academic Memorandum of Understanding (MOU) with Shih Chien University in Taipei, facilitating joint partnerships in fields like Hospitality and
Management, Mandarin Language, Asian Studies, Cybersecurity, and Computer Science/Engineering. This MOU follows FIU’s decision to terminate academic partnerships with universities in mainland China, following pressure from the State of Florida.
ROYAL CARIBBEAN’S PORTMIAMI EXPANSION
Royal Caribbean has broken ground on a new office campus at PortMiami. The new office is part of the redevelopment of the Miami-based cruise line’s global corporate headquarters. The building will encompass 10 floors and approximately 380,000 sq. ft.
FLORIDA’S BAN ON CHINESE PROPERTY OWNERSHIP
A U.S. appeals court has blocked Florida from enforcing a ban against Chinese citizens owning homes or land in the state. The relief was given two Chinese nationals who were in the process of buying property when the law was enacted. The ban has raised concerns about whether it will scare investment activity away from Miami.
