Eli Butnaru joins Bolton Global

Bolton Global Capital has recruited offshore wealth management veteran Eli Butnaru as a managing director and advisor for its office in Miami, Citywire has learned.

The independent broker-dealer and RIA confirmed that Butnaru joined this week after spending the previous 10 years as chief executive officer of Boreal Capital Management’s business in Miami.

Butnaru left Boreal CM back in May and was replaced as its Miami CEO by Joaquin Frances who joined from Andbank, as reported by Citywire.

As well as his responsibilities as CEO, Butnaru also ran a client book of around $250m while at Boreal CM, according to a Bolton announcement.

His main role at Bolton will be to manage a book of business that includes clients from the US, Latin America and Europe, the group said.

Butnaru will work out of Bolton’s Miami office on Brickell Avenue which is led by complex manager Mike Averett, a Citi veteran who joined the group in February.

A 38-year veteran of the financial services industry, Butnaru previously spent nearly two decades with Citibank where he worked in both Asia and the Americas. He also headed UBS’s coverage of the Miami market for eight years before joining Boreal CM in 2012.

To learn more about Eli Butnaru you can read Citywire’s cover star profile of him here.