Bloomberg News

Itau BBA Hires HSBC’s Ex-Head of Brazilian Global Banking

October 11, 2011

(Updates with Marangon comment in the third paragraph, Vieira in the fifth.)

Oct. 11 (Bloomberg) -- Marcelo Marangon, the former head of global banking in Brazil for HSBC Holdings Plc, said he was hired by Banco Itau BBA SA to handle the company’s newly created unit serving large corporations.

Banco Itau BBA, the wholesale arm of Itau Unibanco Holding SA, is segregating the 100 so-called ultra-large companies from the 850 large ones, said Marangon, an executive director who oversees six directors and 24 bankers at the Sao Paulo-based lender.

“The idea is to give more attention to the large companies and grow aggressively our credit and services to them,” Marangon said today in a phone interview. Previously, the large corporate area included all of Itau BBA’s 950 largest clients and was headed by Nicolas Chacur, who left the bank.

Banco Itau BBA also hired Solange Vieira, the former president of Brazil’s civil aviation agency, to head the project-finance unit, she said.

“This was a division and now has the status of a directory,” Vieira said in a phone interview from Rio de Janeiro, adding that she plans to hire staff.

Vieira already has created four units: energy; logistical; industry and mining; and oil and gas.

--Editors: Peter Eichenbaum, Nick Baker

To contact the reporter on this story: Cristiane Lucchesi in Sao Paulo at clucchesi5@bloomberg.net

To contact the editor responsible for this story: David Scheer at dscheer@bloomberg.net


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