Private bank Itaú has hired Percy Moreira as its head of Itaú USA and private international.

He takes over for Fernando Beyruti who will took the role of global head of the private bank in January 2022.

Moreira will be based in Miami and is responsible for the wealth management offshore operation of Itau Private. It currently holds around $30bn under administration. Furthermore, it services clients with over R$10 ($2m) ready for investment.

“Our international operation keeps growing with demands from Brazilians and Latin Americans who recognise Itaú as the most valuable brand in Latin America and who are looking for a trustworthy institution of recognised skill when it comes to diversify their investments abroad,” said Beyruti, who led Itaú USA operations in Miami from 2019 to 2022.

“We have Miami as our strategic hub in the United States with a focus on Latin America, just as our operation in Zurich is a focal point for Latin Americans looking to have their funds managed by a bank in Europe. The arrival of Percy Moreira, with his outstanding background and knowledge in the global financial sector, is set to consolidate our strategy of regional expansion abroad with a focus on clients’ needs.”