Oil and Gas

MOVES-Former Itau banker joins buyside firm Noctua

NEW YORK, Aug 23 (IFR) - Ricardo Navarro, the former head of international debt capital markets at Brazilian investment bank Itau BBA, has joined asset management firm Noctua Partners as a portfolio manager.

Navarro said he had started Monday at Noctua, where he will manage a new emerging markets credit opportunities fund.

While Navarro has worked on the sellside at both Itau and Deutsche Bank, he also gained buyside experience during his time at Stark Investments between May 2007 and February 2009.

At Noctua he will report to Martin Guyot, who co-founded the firm with Luis Caputo, a former Deutsche Bank trader who is now the finance secretary of Argentina.

Caputo left Noctua last year.

Navarro left Itau in May after more than six years at the bank, whose New York capital markets team has suffered a series of departures in the wake of the economic downturn in Brazil.

The bank’s former head of Latin America equity capital markets, Facundo Vazquez, left in May to join UBS in a similar role.

Itau BBA could not immediately be reached for comment. (Reporting by Paul Kilby; Editing by Marc Carnegie and Shankar Ramakrishnan)