SAO PAULO, July 24 (Reuters) - Corporate debt analyst Eduardo Vieira left Itaú BBA on Thursday after a 2-1/2-year stint, a source with knowledge of the situation said, in a blow to the Brazilian investment bank’s effort to boost fixed-income research coverage.
Vieira, who prior to Itaú BBA worked at Credit Suisse Group AG in New York, left to join an undisclosed institution, said the source, who requested anonymity. The analyst, who reported to Ciro Matuo, Itaú BBA’s head of credit research for Latin America, will step away from the industry for two months, the source added.
The bank declined to comment. Calls to Vieira’s mobile phone seeking comment were unanswered. Itaú BBA is the corporate and investment banking unit of Itaú Unibanco Holding SA, Brazil’s largest nongovernment bank.
Itaú BBA, which is increasing investment-banking activities as part of an expansion plan in Latin America, has tried to expand research coverage of corporate debt - an area traditionally dominated by U.S. banks. Itaú BBA has more than 40 equity research analysts in the region covering about 90 percent of the stocks comprising the MSCI Latin America index.
Earlier this month, Itaú hired former Moody’s Investors Service analyst Soummo Mukherjee to boost coverage of Latin America fixed income from Santiago.
His departure comes as the São Paulo-based firm saw Alexandre Aoude, who was head of debt capital markets until last November, and traders Eulo Maroni Filho and João Daniel Tucci step down in recent months. (Editing by Matthew Lewis)