JPMorgan Chase & Co has appointed a new head of debt capital markets for its Brazil operations. Taking on the position is Lucianna Lorenzo, a long-time veteran with the multinational investment bank.
According to an article from Reuters, which sources an internal statement made by JPMorgan on Thursday, Lorenzo is replacing Ricardo Leoni who is also a long-time employee of the firm. He was named as the head of corporate banking for Latin America earlier this year.
No details have been disclosed as to the reason for Leoni stepping down from his position. It is also not clear whether he has left JPMorgan entirely or he has merely relinquished the role of head of debt capital markets of Brazil.
Lorenzo, on the other hand, originally joined JPMorgan 17 years ago in 2001. During her career with the American-based company, she has predominately worked in sales for financial institutions.
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JPMorgan invests in AccessFintech
The news of the appointment follows on the heels of AccessFintech, a startup that sells technology which enables financial firms to manage business errors more effectively, announcing that it had received a cash injection of $17.5 million from top Wall Street banks, including JPMorgan.
As Finance Magnates reported on Thursday, JPMorgan, along with Goldman Sachs Group Inc, Citigroup Inc, and Credit Suisse Group AG, have been working both with the startup individually and as a group over the past 12 months, to assist in the creation of technology which will help improve the efficiency of banks and financial institutions.
Ana Capella, MD and Head of Strategic Investments at JPMorgan Chase & Co commented on Thursday: “We have been fortunate to have been an early adopter of AccessFintech and thus able to vet its value proposition through real life scenarios.”
“Once we understood the impact on the operational model of the financial participants it was a quick decision to provide the financial backing and the momentum to grow this a true cloud based solution, while ensuring it maintains its independence to service the entire ecosystem.”