Credit Suisse Taps Two for ECM

Credit Suisse has replaced Sebastien Chatel – former MD and head of ECM who left for Merrill Lynch in March – with two executives who will oversee LatAm new issuance and origination efforts. Rafael Pagano, a Sao Paulo-based vp will run Brazil ECM, while Jacob Alvarez was hired from Citi, also as a vp, and will do non-Brazil ECM. Both will report to Jeff Bunzel, head of Americas ECM. The replacements carry more junior titles than Chatel’s. The changes come at a time when Credit Suisse was already planning on assigning a person to cover Brazil only, Bunzel tells LatinFinance. In Brazil, Pagano will be competing head-to-head with Chatel, who will be based in Merrill’s Sao Paulo office with a mandate to lure new issuers including SMEs to the equity markets.