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IB Shuffles

Nov 1, 2011

Javier Vargas and Pedro Jorge Villarreal have been appointed as Credit Suisse's new co-heads of investment banking for Latin America, ex-Brazil, now that Pedro Chomnalez has stepped down from that position to lead the bank's Emerging Markets Council.

Both Vargas and Villarreal report to Chomnalez, who keeps his title as chairman of Latin America, while Allan Libman continues to head investment banking in Brazil. Vargas was head of IB in the Andean, Central American and Caribbean regions, a position he held for the last four years. Villarreal was responsible for client coverage in Mexico and had been head of IB in that country since 2006.

At Bradesco, veteran banker Norberto Barbedo has left the institution, where he was overseeing the BBI investment banking operation, private banking, corporate banking and other sectors. He is leaving for personal reasons. His responsibilities for overseeing BBI will go...

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“The crisis has been a setback for reserve diversification."

Jan Dehn, Ashmore Investment Management