Latin Finance - January/February 2010 - 4

People BTG on Hiring Spree Brazil’s BTG Pactual has hired a group of sales people to beef up the LatAm equity e ort, as well as a research analyst to lead a push into Andean markets. They include Santander’s former US-based LatAm equity sales head Frederico Monnerat and ex-Itaú LatAm equity research sales o cial Renato Lobo. From UBS, BTG poached MD Ashley Farrar, a senior salesperson in New York, and sales trader Jesse Wilcox, as well as Enrique Corredor, who will run ECM syndicate. The team aims to sell LatAm stocks to US-based investors. Santander’s former head of Andean research Alonso Aramburu has also moved over to BTG, according to a person close to the hire. His move – alongside Corredor, who has experience outside Brazil – is understood to be aimed at giving the Brazil-born shop a more pan-regional ﬂavor. Mexico coverage is also understood to be in the pipeline, with hires in that area possible in the next few months. “We went on a pretty serious hiring spree,” says a BTG source. UBS has also been hiring, welcoming Gianluca Passaretta as a managing director in its LatAm trading team from Calyon. He is based in Stamford, and has responsibility for derivatives across the region, including swaps, options and inﬂation. Passaretta had been head of LatAm trading at Calyon. UBS is understood to be rebuilding its Brazil o ce following the sale of Pactual to BTG, and some senior hires are anticipated. Bank of America-Merrill Lynch has also seen people leave and return. Alejandro Cuadrado, LatAm economist at BofA Merrill, left for a job at Société Générale, say people close to the matter. Also, David Beker, former local markets strategist at the shop has returned as its new head of ﬁxed income and economic research for the region, following a stint as an EM ﬁxed income portfolio manager at Ontario Teachers’ Pension Plan. Beker left Merrill in January, presumably after bonuses were paid, in the wake of a merger with BofA, and returns with a newer, bigger title. JPMorgan, meanwhile, named Claudio Berquo as senior country o cer for Brazil, according to a source at the bank. Berquo will continue to be head of private banking in Brazil, reporting to Eduardo Cepeda, and will now also run investment banking, asset management and trust & securities services, reporting to Nicolas Aguzin. Elsewhere, Santander has appointed Patryck Pimpão as managing director and head of equities distribution for LatAm, based in New York. Pimpão joins the Spanish bank from Merrill, where he spent over 12 years in the equities division, most recently as a director, and left 2 months ago. He reports to Ignacio Mendive, head of LatAm equities. BofA-Merrill is understood to have hired a number of LatAm equity sta in New York and elsewhere since Pimpão’s departure. Juan Briano remains head of regional equity sales at the US institution. Citi has hired Eduardo Freitas from Unibanco to run local DCM in Brazil, while Mexico-based M&A shop Serﬁcor Partners has appointed as a partner Arturo D’Acosta, former CFO of Grupo Kuo. And Alfredo Thorne, former JPMorgan LatAm economist, has joined Grupo Financiero Banorte as corporate general director in charge of market and economic research and investor relations. Meanwhile, Brazil-based bankers say Barclays is aggressively scouting for local talent and likely to be one of the biggest 2010 recruiters in the country. The ﬁrm has appointed headhunter Russell Reynolds to scout executives for mainly investment banking, but also in trading-related activities. Local corporate client coverage appears to be the shop’s biggest deﬁcit compared to other growing or established houses in Brazil. The coming year is likely to result in musical chairs throughout São Paulo, following a relatively slow hiring year in 2009 and a pent up pipeline of banking business. LF Best bank in Latin America: Itaú Unibanco president Roberto Setubal and LatinFinance editor James Crombie 4 LATINFINANCE January/February 2010

Latin Finance - January/February 2010

Table of Contents for the Digital Edition of Latin Finance - January/February 2010