Latin Finance - September/October 2009 - 4

People UBS, Merrill Doors Revolving Departures from UBS and Bank of America Merrill-Lynch continued into August, as the post-crisis rebalancing at investment banks extended. UBS’s New York-based ECM banker Enrique Corredor has jumped ship, and according to market rumors, he may land at BTG. Meanwhile, a team of four traders and two sales executives in UBS’s LatAm ﬁxed-income currencies and commodities group decamped for Morgan Stanley. On the trading side, head EM trader Meno Stroemer left, joined by Al Chinappi, Drew White and Elias Abud. In sales and trading, Mike Robinson, executive director, and Andy Schlesinger, director, also went to Morgan Stanley, which in May hired six UBS private bankers. However, despite a pending sale of the Pactual Brazil unit to BTG, UBS appears to be positioning itself to rebuild in LatAm once the divestiture is complete. It has named Damian Fraser, head of LatAm equity strategy and research, the new chief of its regional equities business, including sales and trading. “The bank will deﬁnitely rebuild its presence in Brazil,” says a UBS executive who asks not to be identiﬁed. “Starting with equities ﬁrst makes the most sense.” Deutsche Bank has hired Francisco Hernández, a director at Merrill’s Mexico DCM group for the same role. The move comes after defections to the German bank earlier this year by Alberto Ardura, its new head of LatAm DCM and client coverage, and Karan Madan, in charge of EM sales, trading, coverage, and structured products. Iker Kutz, recently a director at Merrill’s Mexico ﬁxed income desk, has also moved to Deutsche, to be a director and head of institutional sales in Mexico City. Pablo Maschinist, a vice president in the LatAm sales and trading team in New York has also left. Meanwhile, Jorge Vallarino has been named CFO at Panama’s Global Bank. The Panamanian was with Merrill for three years in Mexico and a year in the New York DCM group. Global Bank, Panama’s second largest locally owned bank, is understood to be considering branching out into DCM and M&A advisory. And Rothschild has tapped former Merrill investment banker Sebastian Canale as a director. The M&A specialist will be based in Mexico City, covering Mexico, Central America and the Caribbean. 4 LATINFINANCE Citi Brazil Head Bows Out Ricardo Lacerda, Citi’s head of Brazil investment banking, is leaving the ﬁrm in November and expected to take a six-month sabbatical. The move marks a substantial loss, since Lacerda was Citi’s most senior investment banker based in the region. Three of his deputies, Fabio Bicudo, Otávio Guazzelli and Jairo Loureiro, will assume leadership of the Brazil banking business. The domestic Brazil ECM business will continue to be headed by Persio Dangot, while Roberto Serwaczak heads equity for Brazil. LatAm ECM is headed by Juan Carlos George in New York. Elsewhere, Barclays’ head of LatAm equity research Roberto Attuch has brought on former Credit Suisse colleagues to beef up LatAm research. Henrique Caldeira will cover nonbank ﬁnancials and co-head equity strategy alongside Attuch. Leonardo Correa will cover LatAm metals and mining. Former Citi analyst Felipe Mattar is also joining Barcap along with colleagues Sergio Conti and Bruno Pascon, to cover utilities and oil. Telecoms will be covered by Michel Morin, based in New York, alongside David Belaunde, who covers consumer and retail. Barclays also hired André Laloni, who left Goldman Sachs at the end of last year as a coverage banker for Brazil investment banking. Je eries, which is making a push into LatAm, has added veteran ING corporate debt analyst Eric Ollom. It is not clear who will replace him at ING. Also, senior corporate debt analyst Aaron Holsberg has left RBS, which has been o ering attractive voluntary departure packages following relocation to Stamford from New York. Bevan Rosenbloom has been moved internally to cover Holsberg’s beat. Elsewhere, Eike Batista has hired Credit Suisse mining and steel analyst Roger Allan Downey to replace him as CEO of MMX. Downey will also take over IR duties for the Brazilian iron ore company. Batista stays on as chairman of the board. Joaquim Martino, MMX’s former executive o cer, will become a special advisor to parent EBX. And Batista’s logistics operator LLX has named Otávio Lazcano, former CFO of steel company CSN, to be its new CEO and IR o cer. He replaces Ricardo Antunes Carneiro, who will remain within the EBX group and join the board of some of its companies. LF Corporate Analyst Shufﬂe UPDATE For daily news of personnel changes, see www.latinﬁnance.com > September/October 2009

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Latin Finance - September/October 2009

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