MIAMI, Feb. 3, 2011 (GLOBE NEWSWIRE) -- Southern Trust Securities Holding Corporation (STSHC or the Corporation) (OTCBB:SOHL), a financial services holding company with subsidiaries offering Broker-Dealer, Investment Banking, Investment Advisory and Wealth Management services, announced today that its joint venture partner, Geneva based International Private Wealth Management S.A. (IPWM) has formed a new company with Banca Privada de Andorra (BPA) to be called BPA-IPWM (Suisse), S.A. which will be based in Geneva, Switzerland.
Banca Privada de Andorra (BPA) is a 50 year old Andorran financial institution based in the country of Andorra which is located on the south eastern border between Spain and France. It has offices in Uruguay, Mexico, Luxembourg, Spain and Panama. BPA maintains a large private banking and wealth management client base.
The new company BPA-IPWM, (Suisse), S.A. will focus on asset management and estate planning for its clients utilizing the U.S. brokerage and asset management services of Southern Trust Securities, Inc. (STSHC's wholly owned broker-dealer subsidiary) and the fiduciary services of IPWM Trust Services.
STS's CEO Robert Escobio commented: "We are proud that Banca Privada de Andorra (BPA) and IPWM have chosen to give their clients access to STS's broker dealer platform for this exciting new business venture. Having access to potential large European customers will allow STS to continue to grow its core brokerage and asset management business."
About Southern Trust Securities Holding Corp.
STSHC is a financial services holding company with subsidiaries offering securities brokerage, investment banking, asset management and private wealth management for a growing base of retail and institutional, corporate, and high-net-worth clients primarily in Latin America and Europe. STS's services include access to international investment opportunities in U.S. and foreign capital markets, offshore entities for financial planning, and cross-border transactions, including private placements, bridge financing and reverse mergers into publicly-traded shell corporations. STSHC operates through its subsidiaries, Southern Trust Securities, Inc. (STS) and Southern Trust Securities Asset Management, Inc. (STSAM), Southern Trust Metals, Inc. (STM) and affiliated Geneva-based International Private Wealth Management S.A. (IPWM). STS is a member of the Securities Investors Protection Corporation (SIPC), National Futures Association (NFA), and Financial Industry Regulatory Authority (FINRA). STS clears trades through, and maintains client accounts with, Pershing LLC, a wholly owned subsidiary of The Bank of New York Mellon Co.
Forward – Looking Statements
This press release may contain statements of a forward-looking nature relating to future events. These forward-looking statements are subject to the inherent uncertainties in predicting future results and conditions. These statements reflect the Corporation's current beliefs, and a number of important factors could cause actual results to differ materially from those expressed in this press release. Except as otherwise required by federal securities laws, the Corporation undertakes no obligation to update or revise these forward-looking statements.
CONTACT: Southern Trust Securities Holding Corp. Robert Escobio, Chief Executive Officer 305-446-4800