In the new role, Losada will now have a more global role, also incorporating Asia Pacific and Latin America, according to the memo.
Previously he was heading the strategic equity solutions for Europe, Middle East and Africa.
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This unit provides companies and funds with bespoke equity-related financing and hedging services and has become increasingly important for many banks as their ordinary equity capital raising business has slumped due to choppy stock markets and weak economies.
Bankers involved in the sector say that the value of such bespoke deals has grown from almost nothing two to three years ago to the equivalent of half some banks’ Equity Capital Markets business in terms of revenue.
"Sam will be responsible for driving the overall growth of our Strategic Equity Solutions business," the memo said, describing the sector as "a tremendous opportunity" for the firm globally.
The more customised nature of the equity solutions deals means banks can often charge more for them than for run-of-the-mill share issues and among the benefits for those seeking funds is the greater certainty over the amount to be raised than is possible when depending on open markets.
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