UBS Rebuilds DCM With Ex-JPM Vet

UBS is set to begin its push back in to the region’s debt market with ex-JPMorgan banker Mark Tuttle as head of LatAm DCM, according to an internal UBS memo obtained by LatinFinance. Tuttle spent 9 years at JPMorgan, including 2 years running LatAm DCM, before leaving in a December reorganization that also saw the departures of EM syndicate head Cynthia Powell and LatAm loan head Ricardo Rubio. He replaces Marcelo Delmar, who recently left to head BNP’s LatAm debt team following several layoffs in the LatAm DCM group at UBS. Tuttle starts October 19, based in Stamford and reports to Mike Davidson, global head of DCM. “Mark’s arrival underscores the IB’s commitment to Latin America at a time of expanding opportunity and relevance. We are confident that the skills and insight he brings will be instrumental in driving business in the region,” says Davidson in the memo.