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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 SEC. 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 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 the 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
Operation Specialist

Jessie Arriola joined Allaria Securities in 2018 as Back Office Specialist focusing on Account Opening and Asset Movement with direct interaction with Compliance. In 2022 she assumed the Operation Specialist responsibilities supporting the Trading desk with Settlements and Trade Inputs. Prior to joining Allaria Securities she served as head of client services a 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.

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.

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 you 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.

Sonia Concepcion
Back Office Specialist

Sonia Concepcion joined Allaria Securities in April 2022 as Back-Office Specialist, focusing mainly on Account Opening and Asset Movements.

She has been in the financial sector for more than 20 years through which she obtained experience in different areas of the Brokerage industry, like account documentation, internationally clients, Incoming/Outgoing Transactions among other.

She got her Associate in Business Administration from University Inter-Americana of Puerto Rico.

Adriana Garcia
Back Office Specialist

Adriana Garcia joined Allaria Securities in May 2022 as a Back Office Specialist, focusing on Account Opening and Asset Movement fluently interacting with Compliance. She has been in the financial industry since 1999 when she joined Stanford Group Company and supported the firm’s brokerage operations, investment banking and wealth management. Prior to joining Allaria, she joined EFG Capital International Corp in 2011 and served as AML Compliance Officer and was responsible for identifying potential risks and determining an appropriate level of due diligence applying KYC/AML guidelines. In 2020, she joined Alex Brown, Division of Raymond James Financial and served as Senior Client Service Associate, contributing to the growth of the international business of high-net-worth clients providing excellent service and managing operations. During her career, she has also held positions in Global Investor Services- Hencorp and Royal Bank of Canada-Wealth Management.

She is FINRA registered with 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