Itaú BBA, the wholesale and investment banking unit of Brazil's
largest non-government bank, on Wednesday poached four senior
bankers from international rivals to beef up its Latin American,
European and Brazilian mergers and acquisitions advisory unit.
Itaú BBA hired Javier Graña from Morgan Stanley & Co
to help the Latin American unit for M&A, based in Argentina.
Marcel Patiño, a former Citigroup Inc dealmaker, was hired
to help develop Itaú BBA's investment-banking platform in
Colombia, the bank said in a statement.
Ignacio Pérez-Cossio will join Itaú BBA's Madrid office from
UBS AG, while Thiago Maciera, a former Goldman Sachs
Group Inc, will help bolster the Brazilian M&A unit in
the telecommunications and utilities area, the statement added.
Itaú BBA's parent company Itaú Unibanco Holding SA
is betting strongly on investment banking as a source
of revenue now that interest rates in its home turf are near a
record low and credit growth is slowing. Itaú BBA helps 3,100
corporate clients of Itaú Unibanco sell debt and equity, merge
with rivals and hedge against sudden changes in interest rates
(Editing by Dan Grebler)