SAO PAULO, May 4 (Reuters) - JPMorgan Chase & Co has tapped Fabio Resegue to head its Latin America equity trading, as the largest U.S. bank expands activities in a segment poised for a recovery, a person briefed on the matter said on Thursday.
Resegue will join JPMorgan in July and be based in São Paulo, said the person, who requested anonymity because the matter remains private.
Resegue, who will be responsible for cash and derivatives trading activities, will report to Fater Belbachir, head of volatility trading; Chris Berthe and Charles Chiang, co-heads of Delta One, and; Dennis Fitzgerald, head of cash equity trading.
He joins from rival Bank of America Merrill Lynch, where he has worked since 1997. Resegue most recently was a managing director in charge of Bank of America Merrill Lynch’s Latin America equities distribution and international sales trading.
Rising commodity prices and a gradual recovery in the region’s economies are fanning the allure of Latin American equities and bonds. Brazil’s stock exchange has seen nearly 4 billion reais ($1.3 billion) in foreign inflows so far this year, underscoring investors’ continued interest following last year’s rally.
A spokeswoman for JPMorgan declined to comment on Resegue’s appointment. Efforts to contact Resegue were not immediately successful.
His hiring would come weeks after JP Morgan’s Brazil sales trading team poached Leonard Linnet from São Paulo-based Grupo BTG Pactual SA.
$1 = 3.1874 reais Additional reporting by Bruno Federowski in São Paulo; Editing by Paul Simao