Bank of America names Bettamio as Latin America head, source says

SAO PAULO, Sept 17 Tue Sep 17, 2013 10:38pm EDT

SAO PAULO, Sept 17 (Reuters) - Bank of America Corp named Alexandre Bettamio, the chief executive officer of its investment-banking unit in Brazil, as head of its Latin America unit, a source with knowledge of the situation said late on Tuesday.

Bettamio, a former UBS AG and Banco Pactual SA banker who was made Bank of America Merrill Lynch's Brazil CEO in Sept. 2008, will be based in New York, said the source, who declined to be identified.

Bank of America Merrill Lynch, the bank's investment-banking unit, could not be reached immediately for comment.

The source did not say whether a replacement for Bettamio had been appointed. Under Bettamio, the bank rose in rankings for mergers and acquisitions, equity and debt capital markets in Brazil, while increasing advisory and lending deals in Latin America's largest economy.

Bank of America, based in Charlotte, North Carolina, is the U.S. No. 2 commercial bank.