SAO PAULO, July 22 (Reuters) - David Herzberg, global head of equities at BTG Pactual Asset Management, has left the Brazilian firm after almost three years on the job, two sources with knowledge of the situation said on Tuesday.
London-based Herzberg oversaw the $360 million BTG Pactual Global Equity Opportunities fund and was a member of the firm’s management committee, said a first source, who requested anonymity since the decision was not formally announced. Herzberg joined in 2011 from JPMorgan Chase & Co, where he was global head of equity derivatives.
BTG Pactual Global Equity Opportunities invests primarily in equities, equity derivatives and convertible instruments.
BTG Pactual Asset Management is the money management unit of Grupo BTG Pactual SA, Latin America’s largest independent investment bank. The São Paulo-based firm, which has offices in New York, London and other financial hubs, manages over $20 billion in hedge funds.
Herzberg was one of BTG Pactual’s high-profile hires since 2009, when controlling partner and Chief Executive Officer André Esteves started the firm to trade everything from U.S. mortgages and Brazilian equities to physical commodities and Latin American corporate debt.
Efforts to contact Herzberg were unsuccessful. BTG Pactual declined to comment. (Reporting by Guillermo Parra-Bernal. Editing by Andre Grenon)