Carl Adams has joined Sumitomo Mitsui (SMBC), where he is heading its LatAm operation, according to people familiar with the matter. He started last week, after leaving Espirito Santo, where he had been head of structured finance, project finance and origination for the Americas since 2008. Damian Polla is to fill Adams’ role at Espirito Santo.
Category: People
Posted inDaily Brief
LatAm-focused Miner Names CFO
D. James Slattery has been named CFO of Capstone, the Canadian metals company says. He comes from Inmet Mining Corporation, where he was CFO for the last eight years. Copper-focused Capstone has a mine in Zacatecas, Mexico and is also involved in a development project in Chile in partnership with Korea Resources Corporation.
Posted inDaily Brief
Ashmore Strategist Promoted to Head of Research
Jan Dehn has taken over as head of research at Ashmore Investment Management, where he was previously co-head of research, according to a person with knowledge of the matter. The move follows the retirement from the firm of EM veteran and former head of research Jerome Booth, who remains a shareholder in the firm but will now pursue other projects through New Sparta, a private London-based office. Dehn has been at Ashmore since 2005, and was previously at Credit Suisse and the World Bank. Booth had been at Ashmore since 1999, and was previously at ANZ and the Inter-American Development Bank. Ashmore has $65bn under management in EM.
Posted inDaily Brief
Deputy to Leave Fazenda
Nelson Barbosa plans to leave his position as Brazil’s deputy finance minister in June for “personal reasons,” the ministry says. Dyogo Oliveira, the ministry’s deputy executive-secretary, will become interim deputy finance minister. Barbosa has been with the ministry since 2006, and was previously at the planning ministry since 2003.
Posted inDaily Brief
HRT Names CEO
Brazil’s HRT Participacoes em Petroleo has named Milton Franke as CEO, it says. He replaces Marcio Rocha Mello, who announced this past weekend his resignation as CEO of the exploration and production company after three years in the post. Mello remains as a board member. Franke has been with HRT since 2009, in positions overseeing engineering, drilling and production. He previously worked at Petrobras and Booz, Allen & Hamilton. Wagner Peres, president of HRT America, is also stepping down from his role, though he stays on with the board of directors. A replacement for Pires has not been named.
Posted inDaily Brief
HRT CEO Resigns
Marcio Rocha Mello has resigned as CEO of Brazilian oil company HRT Participacoes em Petroleo, the company says. He has been the chief for three years, and will remain as a board member. HRT does not give any indication of who will replace Mello after the move, which came as something of a surprise. “The board asked him to reconsider his decision, but he held to it,” the company says.
Posted inDaily Brief
Natixis Hires ex-Credit Agricole Banker
Jean-Philippe Adam has been hired as head of Natixis’s LatAm platform, in a new role at the French bank, Natixis says. Based in New York, he will oversee the wholesale banking activities in the Latin American region, including a bank in Brazil and representative offices in Argentina, Mexico, and Peru. He comes to the role from Credit Agricole, where he was managing director and head of loan syndications for Latin America until leaving last month. He will report to Stephane About, CEO and head of Natixis’s wholesale banking Americas platform.
Posted inDaily Brief
SMU CEO Resigns
Javier Luck plans to leave his post as CEO of Chilean retailer SMU to pursue personal projects, the Chilean retailer says. He is replaced by Marcelo Galvez, the company’s vp of strategy and human resources. As part of the transition, Luck will stay on with SMU until May 31. The operator of Unimarc and other stores raised $300m in an international bond debut in February, and has indicated it would consider an IPO in the near term.
Posted inDaily Brief
CorpBanca Adds JPM Vet
Carlos Ruiz de Gamboa has joined Corpbanca’s investment banking arm, according to people familiar with the move. The ex-JPMorgan is a director leading the ECM and M&A operations and charged with expanding them. Starting this week, he reports directly to Roberto Baraona, CEO of the IB unit, known as CorpBanca Asesorias Financieras. Ruiz de Gamboa left JPMorgan in March, after 25 years with the bank, in Santiago and New York. He is also director of the Centro de Inovacion Financiera at the business school of the Universidad Adolfo Ibanez.
Posted inDaily Brief
HSBC Expands Research Team
HSBC has added equity research analysts, with Leonardo Correa joining as a Sao Paulo-based senior vice president, covering LatAm metals and mining, the bank says. He previously worked as the regional sector head at Barclays, and follows recently-hired oil, gas and petrochemicals analyst Luiz Carvalho from the British bank. Also, Jonathan Brandt moves over to head pulp and paper coverage for LatAm, Eastern Europe, Middle East and Africa, coming from HSBC’s metals and mining team. Earlier this year, HSBC also hired three senior LatAm equity analysts, bringing on Sandra Boente from Deutsche Bank to covering the utility and water sectors, Alexandre Falcao from XP Investimentos for transport, infrastructure and industrials, and Francisco Schumacher from Deutsche for Southern Cone and Andean strategist.