Fund selector Carlos Valdés has left Panama’s Global Bank to join UBS’s local private banking office as an advisor and relationship manager, Citywire Americas has learned.
Valdés had been with Global Bank since 2011 and had held the role of vice president of private banking and investments.
His boss at Global Bank, Mónica de Chapman, told Citywire Americas that his role and responsibilities are being handed to new recruit Elka Hernández who is set to start on May 2.
Hernández will join from a local family office where she has worked for the past year. Prior to that she was one of the top producing advisors at Panamanian group BG Valores where she was for close to ten years.
As well as Valdés (pictured), De Chapman confirmed that product analyst Maria Eugenia Flamarique had left the firm in order to pursue an MBA in Europe. Her responsibilities will be taken on by Jose Luis Fabrega, a fellow analyst who has been with the group for just under a year.
In his new role Valdés is one of the directors of a seven-strong team at UBS Panamá who cater predominantly to local high-net worth investors. He will report to Olivier Nanzer, chief executive of UBS Advisors Panamá.
Valdés featured in the Citywire Americas magazine Coffee Stop feature where he talked about his career and his best/worst investment decisions.