JP Morgan Private Bank has hired fund selector Fabiana Beltrão from Crédit Agricole’s Indosuez Wealth Management to bolster its Brazil team.
The move will see Beltrão relocate from Miami to New York and become an investor for the group's private banking team working with Brazilian clients, a spokesperson from JP Morgan Private Bank confirmed.
Beltrão was previously a senior associate at Indosuez and was responsible for selecting managers for the discretionary portfolio management team.
Sources familiar with the situation said senior associate Javier Mijares has taken over Beltrão's role. Indosuez declined to comment.
Prior to joining Crédit Agricole in May 2011, Beltrão worked in analyst roles at IBM Bank and Banco Modal in Brazil, according to her LinkedIn profile.
Earlier this year, JP Morgan Private Bank appointed Adam Tejpaul as its new chief executive to lead its private banking business in Latin America in April.
Along with servicing Latin American clients through its US offshore business, JP Morgan has private banking offices in five Latin American countries including Brazil, Chile, Colombia, Mexico and Peru.