Isola, Deltec, Tether, and You

Isola Capital, a Chinese “asset management and family office platform“, arose from Deltec. Their about page proudly proclaimed:

Isola Capital can trace our roots back to 1946 when our founder Clarence Dauphinot and two associates moved to Brazil to explore investment banking and direct investment opportunities. They founded Deltec, an initiative sponsored by Al Gordon, Chairman of Kidder Peabody where Dauphinot had previously been Head of the International Bond Department.

In Deltec, Dauphinot built a lasting legacy of premier private banking, co-investment, and fund management. The spirit of pioneering thinking, innovation and creative approaches to financial markets that Dauphinot championed remains the bedrock of Isola Capital’s principles today.

It also appears that some corporate registries for ‘Isola’ companies were at one point Deltec companies.

Deltec Bank is the bank currently banking (archive) Tether (introduction). Jean Chalopin, the chairman (archive) of Deltec Bank, the creator of Inspector Gadget, and executive chairman of Deltec International Group is himself mentioned by name on historical versions of Isola Capital’s website. Deltec International Group is not just frequently name-dropped, but is listed as a core shareholder.

According to a report from Michael Green of Logica Funds, Isola Capital is no longer associated with Deltec and has not been for ‘several years’.

So at some point in the last several years there was some change at Deltec that led to them no longer being associated with Isola Capital. The Isola Capital website has also been updated to remove many of the previous references to Deltec.

What does this mean? I have no idea. For years Deltec and Isola were fundamentally inseparable, and now they are separated.

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