BRASILIA, Jan 8 (Reuters) - Banco Santander’s head of Latin American equities, Ignacio Mendive, will leave his post as part of several changes in the bank’s operations in New York, two sources familiar with the matter told Reuters on Friday.
Mendive will be replaced by the bank’s head of equity execution in New York, Marcio Souza, said one of the sources who asked for anonymity because the decision is private.
The other four members of the equities team should leave their posts as part of an overhaul that aims to improve the performance of the New York office, which is under constant review for efficiency, said the other source.
The negative performance of the equities market in Brazil is prompting the bank to focus more on fixed-income products, the second source said.
Santander’s press office declined to comment for the story. (Reporting by Paula Arend Laier; Writing by Alonso Soto; Editing by Bernard Orr)