Deutsche Poaches Senior Merrill Banker

Former Merrill Lynch Mexico country head Alberto Ardura is quitting the US shop today for a regional role at Deutsche Bank. He is expected to start later in May as MD and head of LatAm DCM corporate coverage based in New York. Ardura will be reunited with derivatives trading rainmaker Karan Madan, who quit Merrill last month to become the German shop’s new head of LatAm debt. Both are understood to have worked closely together on several high-profile Mexican corporate transactions. At Deutsche, Ardura will report to Madan and Miles Millard, global head of DCM. He replaces David Hinsley, who is moving to London for a promotion to head of global rates structuring. Other senior Merrill LatAm staff are also heard seeking a move to Deutsche – among other shops – though a recent Merrill lawsuit against Deutsche for poaching a US team led by treasurer Eric Heaton deters group defection. Ardura’s exit coincides with several recent high profile departures from Merrill’s LatAm group, including chairman Carlos Gutierrez. Merrill insiders say staff are being made redundant or resigning because of frustration with the takeover by Bank of America. However, Ardura has only good things to say about his employer of the last 7 years. “It’s going to be a very powerful platform once the whole merger is finalized,” the banker tells LatinFinance. “But this is a very good opportunity for me,” he adds. BofA’s Orlando Loera was last month appointed Mexico country head for BofA-Merrill Lynch. Ardura, who was Merrill’s existing Mexico country manager and head of local fixed income, commodities and currencies was confirmed to lead the combined markets areas for both entities in Mexico. MD and head of Mexico sales Pedro Giral is expected to assume Ardura’s responsibilities at BofA-Merrill.