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The Company

Allaria Securities LLC and Allaria Asset Management LLC are the US affiliated entities of the Allaria Group of financial services companies.

The group started its broker dealer operations in Argentina in 1968 and since it has been expanding its financial and wealth management services, both to retail and institutional clients, domestically and in the off-shore market.

Allaria Securities LLC is a broker dealer Member of FINRA and SIPC. It offers brokerage services in securities to retail and institutional clients. It clears and holds custody through Pershing LLC, a subsidiary of The Bank of New York Mellon Corporation.

Allaria Asset Management LLC is a Registered Investment Adviser with the State of Florida. It offers investment advisory services.

Both companies are commonly owned and share office space and employees.

Our team

Marcelo Di Cugno
Chief Executive Officer

Marcelo Di Cugno is an international Financial Leader with an extensive experience in the financial services industry. He is currently President and CEO of both Allaria Securities LLC and Allaria Asset Management LLC. Prior to joining Allaria, he was an Investment Adviser associated with Noctua Partners. Previously, he was country and Latin America Regional CFO for Zurich Financial Services where he was also responsible for the Portfolio Management of country and regional portfolios. Along his career he served as CFO, Financial Manager, Structured Finance VP, and Financial Planning Manager in companies like Zurich, Carrefour, and Cargill among others. His background includes interacting and leading multiple cultures (US, Latin America, and Europe). His credentials include a Masters in Corporate Finance and a Certified Public Accountant from Buenos Aires University. He is FINRA registered with Series 4, 7, 24 and 65 licenses.

Tely Catoggio
Chief Operating Officer

Tely Catoggio is the Chief Operating Officer of Allaria Securities LLC, with a 30-year long career in the financial industry. She is responsible for the control of trading, settlements and all back office related matters. In addition, she is Head of Institutional Sales, overseeing fixed income and equity sales to international Institutional Investors in the US, UK, Asia and Latin America. Tely joined the team in September 2018 as the Miami office was launching operations. Prior to Allaria Securities, Tely spent 19 years at Deutsche Bank Securities in New York as Equity Sales Director for the Emerging Markets team. From 1996-1999, she worked at Deutsche Bank Argentina as Head of Sales and Sales Trading. Her career began in 1991 with the opening of Baring Securities Argentina and during her 5 year tenure she held roles as research analyst and equity sales trader. Tely was a contributor to the first research report published on companies listed on Argentina Stock Exchange. Tely is a Certified Public Accountant (CPA) and has a Business Administration Bachelor degrees from Universidad Catolica Argentina. She is FINRA registered with Series 7, 24, 63 and 55 licenses.

Jessie Arriola
Back Office Specialist

Jessie Arriola joined Allaria Securities in 2018 as Back Office Specialist, where she provides assistance to compliance and operations. Prior to joining Allaria Securities she served as Head of Client Services at CGIS Securities and later was promoted to Assistant Compliance Officer. Jessie started her financial services career in 2011 at JP Morgan Chase. She has expertise with account management, customer service, and compliance support. She received her Associates Degree in Psychology in Miami Dade College. She holds Finra Series 99 license.

Lourdes María Martínez
Back Office Specialist

Lourdes Martinez joined Allaria Securities in 2020 as a Back-Office Specialist. She has been in the financial services industry since 2013. Prior to joining Allaria Securities, Lourdes served as a Client Service Associate at CGIS Securities, a broker dealer in Miami, FL, and previously as a Teller at JP Morgan Chase.

Lourdes graduated from Florida International University with a bachelor’s degree in Business Administration and Finance. She is currently in the process of completing her MBA at Florida International University with a specialization in International Business. A native of Miami, FL she enjoys traveling, baking, and spinning classes. She holds FINRA Series 99 license.

Gustavo Andres Guerini
Senior Vice President

Gustavo Guerini is Senior Vice President at Allaria Securities. He has 20 years of experience in financial services in the roles of advisor, portfolio manager and trader. Before joining Allaria Securities, Gustavo developed his career in Beta Capital Management, Standard Bank Group, Morgan Stanley and J.P. Morgan in their Private Banking divisions.

Gustavo has earned a master's degree in Business Administration from the Darden Graduate School of Business Administration at the University of Virginia and a bachelor's degree from the Universidad Católica Argentina. He is FINRA registered with series 7 and 66 licenses.

Humberto Lopez

Humberto Lopez has been in the Financial Industry since 1995. He is an action-oriented leader and financial expert with a strong record of performance, strong technical financial credentials, excellent interpersonal skills, capable of resolving complex financial and human relationship issues. Core competencies include corporate and individual investment finance, budget and cost management, growth and expansion strategies, client negotiations, account management and finance strategy. Values oriented individual with high level of integrity. He is FINRA registered with series 7, 24, 63 and 66 licenses. Before joining Allaria Securities, Humberto developed his career holding several positions on different Financial Firms as Lehman Brothers, SGC, Nomura, Prudential among others.

William Reekstin
Senior Vice President

William Reekstin is Senior Vice President at Allaria Securities focusing on southern-cone business initiatives and client development, maintaining a CEO position at Rio de la Plata Agente de Valores in Uruguay, an Allaria Group company. He is a financial sector and Wall Street veteran with more than 15 years in the business in various roles. Prior to joining our firm William served as CEO at Criteria, an institutional and wealth management company, founding the organization and positioning the firm in its growth initiatives. Before Criteria, William started Portofino Capital, a financial consultancy firm serving exclusively the institutional sector in their global developments and networking needs. William served as Managing Director at Direct Access Partners leading their global markets division and trading in New York and worked as Executive Vice President at AXES an Auerbach & Grayson Company, leading their global equity execution network and business development. In addition to his financial sector experience, he has maintained a professor position at ORT University in Uruguay since 2014, teaching Economics and Capital Markets. His educational background includes a BBA in Economics and Finance from Baruch College, University of New York.

Kevin Rowe
Chief Compliance Officer

Founder, President, and CEO of The Compliance.Network. Mr. Rowe has over 19 years of experience in Compliance, Operations Management, Marketing and Business Development within the securities industry.

He was former Senior Compliance Examiner with the Financial Industry Regulatory Authority (FINRA) and Director of Account Services at Trade Station Securities (Monex Group).

He started his career at T. Rowe Price in his native Baltimore, Maryland. He is graduate of Temple University’s Fox School of Business and Tyler School of the Arts where he earned a BS in International Business and BA Economics. Mr. Rowe is active in his community and a member of several non -profit organizations. He lives in Fort Lauderdale, Florida with his 2 children.

José Cucalon
Operations Specialist

Jose Cucalon joined Allaria Securities in 2020 as a Back Office Specialist for the Trading area. He has over 17 years of experience and has previously worked at American Express Bank, Standard Chartered Bank Securities and Beta Capital Management where he performed several roles as Middle Office and Back Office manager.

Jose graduated with an AA in computer science and a Webmaster. He is currently in the process of completing the series 99 license.

What we do

Trading & Execution

Allaria provides efficient brokerage and trade execution services to both retail and institutional clients in a wide range of financial securities and markets worldwide. Pershing LLC facilitates state of the art clearing and settlement on every transaction. This help us provide outstanding execution capabilities for our Wealth and Portfolio Management teams.

Wealth Management

Based on client’s risk tolerance, investment objectives and financial goals, and leveraging on the group’s portfolio management, research, tax, legal and compliance teams, our network of financial advisers help to build, preserve and manage wealth through different comprehensive financial strategies across market cycles and generations. Services may be commission based or fee only.

Portfolio Management

Combining in the group investment committee an extensive market and management experience, internal and independent research, and access to deal flow and execution, the team of portfolio managers elaborate a variety model portfolios and tailor-made investment strategies across multiple asset classes which are monitored on real-time basis.


Allaria acts as intermediary under chaperone rule 15a-6 for purposes of distributing research created by its affiliate Allaria Ledesma & Cía. to certain U.S. institutional and major U.S. institutional investors, and provide execution services in connection with the securities identified in the research.

Clearing & Custody

One of Allaria Securities LLC main objectives is to care about the safety of our customer’s assets and the efficiency of their transactions’ execution. That is the reason why we signed and agreement with Pershing, LLC to be our clearing and custody agent by holding and managing customer’s segregated accounts and providing clearing services for their transactions.

Pershing, LLC, a wholly owned subsidiary of Bank of New York Mellon (BNYM), the oldest US Bank founded by Alexander Hamilton in 1784, is the world’s leading correspondent clearing firm which has been providing brokerage execution, clearance, data processing and financial products and services to introducing broker dealers since 1939.

BNYM Pershing is a member of the New York Stock Exchange and every major US securities exchange as well as member of the German, Irish, and London Stock Exchanges. Throughout its worldwide facilities, BNYM Pershing provides integrated, multilingual, multicurrency capabilities including execution, clearing, settlement, custody and reporting services. BNYM Pershing has execution capabilities in 45 countries.


Mailing address

1110 Brickell Ave. Suite 603
Miami, FL 33131

Email address
Phone number

+1 (786) 686-5400