Latin American Bank Itau Signs Five-Year Sponsorship Deal With Miami Open

Latin America’s largest bank by market value, Itau Unibanco Holding, "will become the lead sponsor of the Miami Open tennis tournament as it tries to take advantage of the city’s growing Brazilian population," according to Danielle Rossingh of BLOOMBERG. Previously called the Sony Open, the event will be known as the "Miami Open presented by Itau" from '15-19. Itau Institutional Marketing Dir Andrea Pinotti Cordeiro said, “Our customers love tennis. We have a very important office for private banking operations in Miami, we serve mostly Latin American and Brazilian customers here.” She added the Miami event also has "a big audience" in Brazil. Miami Tournament Dir Adam Barrett declined to give financial details of the agreement, which he said "puts us in a place to continue growing the event." Barrett: "It is a deal that is among the strongest that you’ll find for either a presenter or title sponsor" (BLOOMBERG, 8/19).