Bank of America Merrill Lynch (BAML) has a void to fill in its fixed income unit in Brazil, following the departure of mainstay Pedro Bianchi, according to a recent Reuters report.
Mr. Bianchi has been a longtime veteran at BAML, having served as the head of its fixed income and underwriting activities in Brazil for over a decade. His departure opens up an opening in the lender’s unit, after the two parties mutually parted ways. During his tenure at BAML, Mr. Bianchi helped spearhead and foster BAML’s structuring transactions, playing a key role in the unilateral flow of funds between investors and Brazilian states.
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Following the departure, it is currently unknown where Mr. Bianchi’s next destination is, or who BAML will tap to replace him.
BAML has been relatively devoid of many widespread personnel moves as of late, which seemed to be the norm towards the tail end of 2015. While many other banking groups, namely Deutsche Bank, Standard Chartered, and Barclays, etc., have seen a widespread winnowing of personnel in emerging markets (EM), and Europe, BAML has largely abstained from any such cuts thus far into 2016.