Sura Asset Management has named a fixed income head for its fund management business, triggering changes in the investment team of its Peru pension subsidiary.
Armando Vidal has become the bond chief for Sura’s asset management unit, which oversees the group’s fund business in Mexico, Chile, Peru, Colombia and Uruguay. A spokesperson for Sura confirmed the appointment to Citywire Americas.
Vidal replaced Roberto Melzi, who in June took over as chief investment officer of Sura’s Peruvian pension subsidiary, $19.2 billion AFP Integra.
Before joining the Latin American investment team, Vidal served as AFP Integra’s fixed-income head for almost three and a half years.
Vidal’s move saw Julio Villavicencio become the pension fund’s bond chief. Villavicencio had been serving as Integra’s equities head, a job taken by Jean Pierre Fournier, a bottom-up investment strategist at the firm.
Fournier oversees a four-person team running portfolio a roughly $8 billion portfolio of direct and indirect equity investments. Of that, about $2 billion is in active international mutual funds, with the rest in ETFs and direct investments in Latin America.
Both the fund management segment and AFP Integra fall under Sura Asset Management, which houses pensions, wealth management, and asset management units across Latin America.
As of the end of 2017, Sura Asset Management ran $134 billion across Latin America, according to the group’s fourth-quarter results.