SAO PAULO, Nov 10 (Reuters) - Itaú Unibanco Holding SA , Latin America’s largest bank by market value, named Milton Maluhy Filho as chief executive officer of Itaú CorpBanca, the venture that will expand the lender’s presence across South America.
In a statement released late on Tuesday, Itaú said Maluhy will be tasked with conducting the integration of CorpBanca SA and Itaú Chile into a single bank as well as launching the Itaú brand in Colombia. Maluhy starts on Jan. 1 and will report to Itaú CorpBanca’s board, the statement added.
Maluhy was the president of Itaú’s card processing unit. During his 13-year stint at the São Paulo-based lender, he also was an executive at Itaú’s corporate, wholesale and investment-banking units.
He replaces Boris Buvinic, who will act as a board member for Itaú CorpBanca’s Chile and Colombia operations.
Itaú CorpBanca was created after Itaú’s purchase of a majority stake in Santiago-based CorpBanca SA last year. (Reporting by Guillermo Parra-Bernal)