Itau Picks Mexico IB Leader

Itau BBA has hired Alberto Mulas as CEO for Mexico, it says, starting in January when it officially initiates operations there. The Brazilian bank is in the process of opening a broker-dealer in Mexico, and has been working with Cresce Consultores, the advisory firm Mulas has operated since founding it in 2003. Prior to that, Mulas was the Mexican government’s national housing commissioner, after working at banks including JPMorgan and Lehman Brothers. Itau’s plans are in line with other large LatAm institutions looking to become full-service investment bank operations outside their home country. Itau worked on Banorte’s $2.5bn equity follow-on in Mexico this year.