Santander Hires New Local DCM Heads

Santander has hired two new local DCM heads in Brazil and Mexico. It has hired Cristina Schulman to head Brazil DCM, replacing Ricardo Leoni who left the Spanish bank earlier this year to join JPMorgan. Schulman comes from Morgan Stanley where she held a similar position. In the interim, Leoni’s responsibilities at Santander are being handled by Eduardo Borges, head of credit markets for Brazil, until Schulman finishes gardening leave in late November. Meanwhile, Octavio Calvo is also joining Santander Mexico next week to head the bank’s DCM operations in that country. Calvo comes from BNP Paribas where he was managing director of fixed-income in Mexico. Prior to that, he worked for Calyon, and Wachovia Securities where he also headed DCM. Gerardo Freire, who was in charge of DCM for Santander in Mexico, is now focusing his energies on structured finance.