SAO PAULO, March 11 (Reuters) - Pedro Bianchi, who for more than a decade ran Bank of America Merrill Lynch’s fixed-income underwriting activities in Brazil, left the company on Wednesday, two sources with knowledge of the situation said.
Bianchi and BofA parted ways amicably, said one of the sources, who requested anonymity to speak freely about the executive’s departure. A Bank of America representative declined to comment.
Bianchi led underwriting of bonds and other fixed-income securities in Brazil for about a decade and was a pioneer in structuring transactions by which some Brazilian states borrowed money directly from investors for the first time since a state default at the start of 1999. (Additional reporting by Tatiana Bautzer; Editing by Steve Orlofsky)