March 27, 2013 / 4:36 PM / 5 years ago

Itau grabs new Europe investment bank boss from Morgan Stanley

LONDON, March 27 (Reuters) - Itau Unibanco, Brazil’s biggest bank, said a senior Morgan Stanley banker would become the new head of its overseas investment banking operations.

Itau BBA, the wholesale and investment banking arm of Itau Unibanco, on Wednesday said Charles Stewart is to become chief executive of its international business from June 24, based in London.

Stewart will succeed Almir Vignoto, who will move to New York later this year to head Itau BBA’s U.S. operations.

Stewart has been Morgan Stanley’s deputy head of investment banking in Europe since 2010 and was previously its head of investment banking for Latin America in Sao Paulo. He was named a managing director at the U.S. bank in 2005.

Morgan Stanley said Kamal Jabre, currently chairman and chief executive of its Middle East and North Africa business in Dubai, would take Stewart’s position and relocate to London.

Itau last year moved its corporate and investment banking arm’s European headquarters to London from Lisbon. It targets the 300 largest European groups that own operations or investments in Latin America.

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