
TURNING INTELLIGENCEINTO INSIGHT

What We Do
We deliver comprehensive risk advisory solutions on matters ranging from geopolitical risk analysis to strategic due diligence, corporate intelligence and cross-border litigation support.
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With expertise in regions like Latin America and sub-Saharan Africa, we leverage a vetted network of global contacts and deep knowledge of local markets to provide our clients with actionable insights and safeguard their interests.
We combine open source intelligence (OSINT) with human intelligence (HUMINT) and strategic analysis to give our clients the context they need to make informed decisions.
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How We Work
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In regions like sub-Saharan Africa and Latin America, open source information can be lacking and the right intelligence can be crucial to understanding the reality on the ground. As such, our services typically combine open source information with human intelligence from sources on the ground and complementary strategic analysis.
We believe that context matters, because a deeper understanding of cultural and historical context can make all the difference when it comes to managing risk. We believe that providing the human touch is critical to success in the challenging regions of the Global South.
We believe a strategic, holistic approach is key, because the questions that you don't know to ask are often critically important. We believe in leaving no stone unturned, because unturned stones can become future liabilities. We believe in providing real value in the form of actionable intelligence and strategic analysis, as opposed to a mere “laundry list” of issues.
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We roll up our sleeves and get things done. We go where the answers are. We think creatively and work ethically, in compliance with the law. We connect the dots for our clients. We ask questions so our clients don’t have to. We add value, always. We turn intelligence into insight.
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Where We Work
Our regions of primary expertise are Latin America and sub-Saharan Africa, but our in-house experts and extensive network of contacts allow us to leverage wider reach on behalf of our clients.
Note: No two matters are the same. While we work in all the shaded jurisdictions, all projects require case-by-case evaluation. Here we have highlighted high feasibility jurisdictions and distinguished them from those where project scope may be especially affected by political or other considerations.

Who We Are
Israel Armada
Managing Partner

Israel is a risk management and risk advisory expert with over a decade of experience in the industry. Over the course of his career, he has conducted investigations and led engagements including due diligence, asset tracing, litigation/arbitration support investigations, white collar criminal defense investigations, proxy battle investigations, internal investigations, geopolitical risk, and strategic intelligence across the world.
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He began his career conducting national security background investigations on behalf of the US government. He later joined an global corporate investigations and risk advisory firm where he managed international engagements--including, M&A and pre-acquisition due diligence, strategic and competitive intelligence, white collar criminal defense, and anti-corruption investigations--for Fortune 500 companies, financial institutions, and international law firms. Israel later founded ARC with an initial focus on consulting in Latin America & the Caribbean successfully managing countless complex engagements across every country in the region. After nearly a decade in consulting, he joined a global pharmaceutical firm active in 60 markets where he led design and implementation of risk management initiatives for the global procurement function. He now leads ARC with a renewed focus on Latin America and sub-Saharan Africa.
Israel holds a B.A. in Political Science and Philosophy from Florida International University, an MSc in Forensic Accounting from the University of Portsmouth (UK), and an MBA in Risk Management from Catholic University of Murcia (Spain). He is fluent in English, Spanish, Portuguese, and Hebrew.
Eduardo Lamphrey
Managing Director

Eduardo is a qualified attorney admitted to the bar in Panama. A seasoned investigator, litigator and counselor, he has represented companies and individuals in countless civil, criminal, administrative and labor matters before Panamanian tribunals and advised clients on matters ranging from company formation and real estate transactions to trust/estate law and commercial/criminal disputes. Before beginning his legal career, Eduardo served in the Colombian Army in Military Police and Anti-Guerrilla units.
Eduardo manages various aspects of field investigations for Armada Risk Consulting in Latin America. He has published two books as well as a number of articles on legal topics in major newspapers in Panama. He holds an LLB from the University of Panama, a Bachelor's in Religious Studies from the Catholic University of Santa María la Antigua (Panama) and diplomas in: forensics and expert witnessing as well as mediation and dispute resolution from the University of Panama where he is also completing an LLM in Procedural Law. He is a native Spanish speaker and has intermediate knowledge of English.

OUR SERVICES
Geopolitical Risk Advisory
What are the country and sector risks in your target market? What do recent political changes on the ground mean for your operations? What do election results mean for you? Combining analysis and insights from our trusted source network, our tailor-made geopolitical risk advisory services help you understand the risks on a macro and micro level.
Strategic Intelligence
What are the risks and opportunities in your target market and sector? How will key stakeholders (e.g. competitors, regulators, etc.) react to your moves and those of others? Our strategic intelligence offerings provide actionable insights into strategic risk factors and opportunities.
Strategic Due Diligence
What risks do your potential partners or agents pose? How can you mitigate risks to your operations and even leverage them into opportunities? Our due diligence products typically combine open source and human intelligence with strategic analysis to help you contextualize findings and mitigate reputational, anti-corruption, and other risks.
Asset Tracing and Litigation Support Investigations
How can you obtain evidence in challenging jurisdictions? What is the best way to build your case ahead of upcoming litigation or arbitration? Whether tracing assets or combing through public records, our experts are experienced at gathering evidence ethically and legally for complex, international litigation and arbitration.
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