Bank of America has appointed Rodrigo Xavier as new chief executive of its Brazilian wholesale and investment banking unit, with effect from 31 March.
In his new role, Xavier will be replacing Alexandre Bettamio, who became head of Latin America for Bank of America in September.
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Prior to joining Bank of America, Xavier served as head of UBS’ Banco UBS Pactual SA investment banking unit in Brazil from 2008 to 2009.
Xavier was previously a founding partner of private equity firm Vinci Partners, which he has left last year after a four-year spell as a partner and head of asset management.
Bettamio was named as head of Brazil investment banking for Merrill Lynch & Co in March 2008 and was made chief executive of the unit after Bank of America took over Merrill in September 2008.
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