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Merrill Lynch appoints new head of financial institutions group

Merrill Lynch has hired Adriano Borges the new head of its financial institutions group and real estate investment banking in Brazil.

Mr Borges has previously served at Credit Suisse Brasil as a senior banker, responsible for the origination and execution of several landmark equity, debt and mergers and acquisition transactions over the last three years.

Mr Borges will join Alexandre Bettamio, former co-head of investment banking at UBS-Pactual, who came to Merrill Lynch as part of the recent hires to head up the firm’s Brazilian investment banking business.

Andrea Orcel, global head of investment banking for Merrill Lynch, said: Adding a banker of the caliber and reputation of Adriano Borges to our Brazilian origination team is evidence of how critical we see Brazil in our overall global investment banking strategy.