EFG International’s head of Latin America, Gerald Robert, is retiring from the Swiss Group less than a year after being appointed to the role.
Switzerland-based Robert joined EFG in October last year following the completion of its acquisition of BSI from Brazil’s BTG Pactual, which at the time was under fire following the arrest of its former CEO André Esteves for alleged links to a corruption scandal.
He was named head of Latin America and a member of EFG’s executive committee after having previously ran BSI’s business in Latin America, the Middle East and the Eastern Mediterranean region since 2012.
Marcelo Coscarelli, EFG’s current head of the Americas, has been named to take over Robert’s responsibilities for Latin America, bringing the region under one sole leadership, the firm said in a statement.
Miami-based Coscarelli joined EFG in November last year from Citibank Latin America, where he headed up its high net worth and affluent client division.
Prior to joining Citi in 2012, he was the chief operating officer of Itaú Private Bank International in Miami for four years.
The appointment follows the hire of Eduardo Moliterno Da Cruz from Citigroup as the head of client solutions and chief executive of EFG Asset Management Americas in March this year.
Commenting on the change in leadership, Joachim H. Straehle, chief executive of EFG International, said: ‘We thank Gerry Robert for his important contribution to the combined business and the integration in the Latin America region. We wish him all the best in his future endeavors. Under the leadership of Marcelo Coscarelli, we are convinced that we can further drive the growth of our business in this important region.’