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Itau Takes Castro Cunha From Bank of America to Manage Fixed-Income Assets
Posted on April 7, 2011
Itau Asset Management hired Virgilio Castro Cunha, the former head of Brazil economics and fixed- income strategy at Bank of America Corp. (BAC) in Sao Paulo, according to a person familiar with the matter.
Castro Cunha will work for Itau, Brazil’s second-largest asset manager, as a fixed-income money manager in Sao Paulo, said the person, who asked not to be identified in accordance with company policy. He holds a master’s degree in economics from the University of Chicago.
Rinat Rond, a Bank of America spokeswoman in New York, said the bank doesn’t comment on personnel matters. An official in the press department at Itau Asset Management in Sao Paulo declined to comment. Castro Cunha couldn’t be reached for comment.
BB DTVM SA, the asset-management unit of Banco do Brasil SA, is the largest money manager in Brazil, according to Anbima, the country’s capital markets association.
To contact the reporter on this story: Gabrielle Coppola in Sao Paulo at gcoppola@bloomberg.net
To contact the editor responsible for this story: David Papadopoulos at papadopoulos@bloomberg.net