Citywire - For Professional Investors

Register to get unlimited access to all of Citywire’s fund manager database. Registration is free and only takes a minute.

BTG Pactual Chile rebuilds LatAm equities team with latest Santander hire

BTG Pactual Chile rebuilds LatAm equities team with latest Santander hire

BTG Pactual Chile’s asset management arm has rebuilt its Latin American and Chilean equities team after it lost almost its entire team to a local boutique set up earlier this year by one of the group’s former partners.

The latest member to join as part of its reconstruction phase is Rodrigo Carvallo Illanes, a Chilean equities analyst who was previously at Santander Asset Management Chile and is the third hire from the group in four months.

At Santander, Carvallo worked as a large and small cap analyst for construction and mining firms in Chile, Colombia and Peru.  

In January, local boutique Toesca Asset Management, founded by former BTG Pactual Chile partner Alejandro Reyes, poached the firm’s four-strong Latin American and Chilean equities team.

BTG Pactual then hired fund manager Pablo Bello from Santander Asset Management Chile to head up the unit and his analyst Andrés Navarrete to replace the departing quartet. However, the team suffered another departure in February when analyst Sergio Rossi also left for Toesca.

As well as Bello and Navarrete, the latter now a portfolio manager, in the past few months the firm also added analysts Tomás González and Karen Morales, with Carvallo's recruitment now completing the team.

González joined BTG Pactual Chile in December from energy company AES Gener while Morales moved from a fund administration role within BTG Pactual Chile.

Of BTG’s original Latin American equities team, Matías Cruzat is the only analyst to still be with the firm.

The firm was hit by a series of exits which in part were due to the late 2015 corruption scandal involving André Esteves, the ex-CEO of its Brazilian parent company who has since rejoined the firm in a non-executive position.

Wealth changes

The firm has also strengthened its wealth management unit with the promotion of Mauricio Cañas as head of investments, who replaced Katherine Boragk after she also left for Toesca in April.

In June, Cañas hired Hugo Aravena, a former Banchile strategy manager, as a director of portfolio solutions and asset allocation within the wealth management division.

On the distribution side of the business, BTG Pactual Chile also hired Felipe Cárcamo from Santander Asset Management, naming him director of third-party international fund distribution in June.

Santander didn’t respond to calls or emails from Citywire Americas regarding Carvallo’s replacement in time for publication.

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Events
  • Citywire Santiago 2017

    Citywire Santiago 2017

  • Citywire Mexico 2017

    Citywire Mexico 2017

  • Citywire Miami 2017

    Citywire Miami 2017

  • Citywire New York 2016

    Citywire New York 2016

  • Citywire New York 2016

    Citywire New York 2016

  • Citywire Mexico 2016

    Citywire Mexico 2016

  • Citywire Mexico 2016

    Citywire Mexico 2016

  • Citywire Panama 2016

    Citywire Panama 2016

  • Citywire Latin America 2016

    Citywire Latin America 2016

  • Citywire Latin America 2016

    Citywire Latin America 2016

  • Citywire Miami 2016

    Citywire Miami 2016

  • Citywire Miami 2016

    Citywire Miami 2016

  • Citywire Panama 2016

    Citywire Panama 2016

  • Citywire New York 2015

    Citywire New York 2015

  • Citywire New York 2015

    Citywire New York 2015

  • Citywire New York 2015

    Citywire New York 2015

  • Citywire Santiago 2015

    Citywire Santiago 2015

  • Citywire Santiago 2015

    Citywire Santiago 2015