Itau Investment-Banking CEO Etlin Plans to Leave in December

  • Started at the Brazil bank in 2005 after working for UBS
  • Itau BBA cut seven debt-capital executives earlier this year

Jean-Marc Etlin, chief executive officer of Banco Itau BBA SA, is leaving the firm.

Etlin will depart at the end of December for personal reasons, the Sao Paulo-based bank said Wednesday in an e-mailed statement. Itau BBA, the corporate and investment-banking arm of the biggest Latin American bank by market value, hired Etlin in 2005 from UBS Group AG, where he was head of investment banking for Latin America.

Itau BBA cut seven executives earlier this year from its international debt-capital market business including the head of the division amid the worst year for investment banking in Brazil since at least 2005. International bond issuance by Brazilian companies tumbled 82 percent this year, to $7.67 billion, the lowest for that period since 2008, according to data compiled by Bloomberg…

Itau Investment-Banking CEO Etlin Plans to Leave in December

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