New York based financial services firm Pali has launched a wealth management division to be known as Global Plus+ Investment Management. GPIM has begun operations after a strategic equity investment from Grupo Mundial, a Panamanian headquartered insurance, banking and wealth management group.

Jorge Suarez-Velez, most recently global head of private banking for Latin America at ING Private Wealth Management, will lead a team of five professionals reporting to Luis Marino as senior managing director.

GPIM will focus on an international client base with long-term preservation of capital as its prevailing investment objective. It will also advise families in their trust and succession requirements.