BAML Appoints Mexico I-Bank Head

Emilio Mahuad, head of Mexico principal investments at Bank of America-Merrill Lynch (BAML), is being named head of investment banking for the country, according to people close to the matter. He is replacing Laurent Massart, who will remain at the firm, assuming a role in the M&A department. Neither executive was available for comment. The move is understood to be close to being announced internally. Separately, BAML has hired Alberto Ades as co-head of fixed income strategy and economics. Ades, who in June will join co-head Daniel Tenengauzer, comes from Citi, where he was head of LatAm economics and market analysis for the past 5 years. Prior to Citi, he spent 11 years at Goldman Sachs. Ades and Tenengauzer will report to Michael Maras, head of global credit research and Adam Quinton, head of global macro research. BAML also recently added LatAm credit analyst Anne Milne from Deutsche Bank, who will be global head of EM corporate research after a 3-month gardening leave.