Esteves Moves Up at UBSAndre Esteves has been promoted to global head of fixed income at UBS Investment Bank, from chairman and CEO of the firm’s LatAm business. He will […]
Category: People
Posted inDaily Brief
Hurricane Tightens Jamaica Election
Jamaicans go to the polls a week later than expected, on September 3, delayed by Hurricane Dean. The People’s National Party and Jamaica Labor Party are apparently very close in the polls and much will depend on how the government leads through the storm’s aftermath. “With both parties neck-and-neck, the government’s ability to respond to the damages caused by Dean will be decisive,” says Merrill Lynch.
Posted inDaily Brief
ING’s Muriel to Run LatAm Insurance, Pensions
ING Americas has appointed Carlos Muriel CEO and president of its insurance and pension operations in Latin America, effective January 1. Muriel, who is currently chairman and CEO of ING Mexico based in Mexico City, will oversee ING’s growing insurance and pension operations in Brazil, Chile, Colombia, Mexico, Peru, and Uruguay. Muriel has been with ING since 1996 and will report to Tom McInerney, chairman and CEO, ING Insurance Americas. “Latin America is an important region of the world for ING Group because it has an attractive growth profile that aligns with ING’s global strategy to build scaled and sustainable leadership positions in the wealth accumulation and insurance businesses of emerging markets,” says McInerney. Muriel replaces Robert Crispin, who recently announced his retirement from ING as chairman and CEO, ING Investment Management and Latin America. ING recently acquired Santander’s pension fund businesses in Mexico, Chile, Colombia and Uruguay for $1.3bn in cash.
Posted inDaily Brief
Esteves Moves Up at UBS
Andre Esteves has been promoted to global head of fixed income at UBS Investment Bank, from chairman and CEO of the firm’s LatAm business. He will relocate from Brazil to London and oversee all fixed income products across all regions. Despite the move and different time zone, Esteves will remain responsible for Latin America. Esteves was the managing partner of Banco Pactual, which was acquired by UBS in 2006. Esteves replaces Simon Bunce, who after 18 years with the firm has decided to leave and pursue other opportunities, according to an internal memo from Huw Jenkins, Chairman and CEO of UBS Investment Bank.
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Latin American Bio-Fuels & Agribusiness Finance Seminar
Investments in the billions are currently pouring into agribusiness and bio-fuel projects across the region. The global comparative advantages of the Latin American agribusiness sector put it in an excellent position to benefit from the increased demand for agricultural products both as food, energy, feeds and feed-stock.
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Innovation in Infrastructure Finance Seminar
There have been vast improvements in infrastructure in Latin America over the last decade and projects are increasingly being planned, financed and completed across the region. Infrastructure is an essential and strategic platform for growth, competitiveness and stability.
Posted inDaily Brief
Gerdau Climbs Value Chain
Mario Longhi, president and CEO of Gerdau Ameristeel, notes the acquisition is consistent with Gerdau Ameristeel’s strategy to further diversify its product offering into high value added steel products, and believes the deal will generate annual pre-tax operating synergies in excess of $55m by the end of 2008. Also, the equity offering is expected to dilute 2007 and 2008 EPS. Moody’s and Fitch put Gerdau and Gerdau Ameristeel on review for downgrade yesterday noting that the deal could significantly increase Ameristeel’s leverage. “Were Ameristeel’s Debt/EBITDA to increase beyond 3.0x, its ratings could be downgraded multiple notches,” Moody’s noted.
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Andean Investment Forum
The first Andean Investment Forum will gather those public and private sector leaders, both international and regional, whose decisions shape the present and future of the Andean economy to discuss and debate investment opportunities in the region, the evolution of the financial markets, challenges and solutions in capital-raising for the corporate sector, and economic integration and growth.
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Latin American Banking Leadership Council
During the IDB and IMF annual meetings, LatinFinance gathers board members of the Latin American Banking Leadership Council for an afternoon to foster a greater level of discussion and interaction between senior banking executives active in the region.
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Brasil: Desempenho Extraordinário & Novas Classes de Ativos
O rápido crescimento econômico do Brasil e a inovação financeira associada estão gerando uma série de novos ativos, tanto financeiros – derivativos, títulos lastreados em ativos – como reais – commodities, bio-combustível e agronegócio. Por sua vez, isso está fomentando o crescimento da quantidade e do tipo de investidores internos, inclusive o rápido crescimento dos fundos hedge e das operações de private equity locais, bem como a maior participação de todos os tipos de investidores internacionais.