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Peru pension giant Integra names new CIO after exit

Peru pension giant Integra names new CIO after exit

Peru's leading pension fund, AFP Integra, has named Roberto Melzi as its new CIO after its former investment head left the firm to join an insurer, Citywire Americas has learned.

Renzo Castellano had served as the AFP’s CIO for almost four years and has now taken over the CFO post at Peruvian insurance company Rimac Seguros, a manager at that firm confirmed to Citywire Americas.

Melzi, who started his new job on Monday, is something of an internal hire. He was head of fixed income for Mexico, Chile, Peru, Colombia and Uruguay for Sura Investment Management (IM), the asset management arm of Latin American financial giant Grupo Sura, which controls AFP Integra.

With at least 20 years of experience in the industry, Melzi has worked at Barclays Capital in Mexico and New York, as well as at Deutsche Bank in those two cities and in London.

He served as AFP Integra’s fixed income head from 2012 to 2014. Melzi then became both chief investment officer of insurer Seguros Sura and head of fixed income at Sura IM. Oscar Rodríguez Serrano replaced him as head of investments at the insurance firm in January, according to a Seguros Sura report.

Grupo Sura runs more than $163 billion for 39 clients across 11 Latin American countries, according to the firm’s website.

The group’s local firm, Sura Asset Management Peru, runs $17 billion for two million clients through AFP Integra, Funds Sura and broker SAB Sura. AFP Integra run $17 billion in assets and had more than 40% of the pension market share in Peru.

Sura Asset Management Peru announced at the end of May that it had sold its stake in Seguros Sura, to Peruvian conglomerate Intercorp.

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