Hedge fund BlueCrest Capital Management Ltd has a new entrant Eduardo Ikuno, a New York-based proprietary desk trader from Itau Unibanco Holding SA (ADR)(NYSE:ITUB). Reliable sources have revealed that Ikuno who left last month is currently on a so-called garden leave which is more often than not an industry waiting period. He has been reporting to Itaú’s treasury director Marco Sudano. Ikuno’s departure details are scanty even though a spokesman for Itaú in São Paulo has confirmed that he is no longer part and parcel of Itaú Unibanco Holding SA. Nonetheless, efforts to contact Ikuno did not bear any fruits.
Ikuno has been handling international fixed-income trading for Itaú BBA’s proprietary desk. Itaú BBA happens to be Latin America’s largest bank by market value. He is also a former trader for Deutsche Bank AG (USA)(NYSE:DB) and Citigroup Inc(NYSE:C). Nonetheless; it is not clear yet what he will be doing at BlueCrest, the hedge fund founded by billionaire Michael Platt and which manages about $8 billion.
Itaú BBA suffers a series of departures in the recent past
The massive competition within financial institutions is rife. The millions of these establishments are all fighting to have the best of resources that will not only attract new customers but also retain those that they already have. However, there are new shake-ups at the wake of every sunrise.
Itaú BBA seems to be suffering from a series of departures perhaps as a result of the economic downturn in Brazil. As Ikuno moves to BlueCrest, another Ricardo Navarro takes up the roles of a portfolio manager at asset management firm Noctua Partners. He ceases from being the international debt capital markets at Brazilian investment bank Itau BBA. Navarro who has been in Itau for Six years will now be reporting to Martin Guyot, the co-founder Noctua Partners alongside Luis Caputo. His roles will primarily have everything to do with the emerging markets.
A while ago A while ago, Facundo Vazquez, the bank’s head of Latin America equity capital markets left the bank to take up a similar role with UBS Group AG (USA)(NYSE:UBS).
Progressive Care Inc (OTCMKTS:RXMD) Acquires Services Of Monarch Bay Securities
Progressive Care Inc (OTCMKTS:RXMD) has announced that it has entered into a new placement agent and advisory agreement, with Monarch Bay Securities. Under the agreement, MBS would exclusively search for investors, who are interested in potential security offerings from the company. Added to this, MBS would also serve as a non-exclusive advisor for potential joint ventures, acquisitions and mergers, for RXMD. Progressive Care has also disclosed that the move is aimed at improving the company’s balance sheet and accelerating its growth, for eventually up-listing to a national exchange.
In return for its services, MBS would receive a total of 1 million shares of Progressive Care’s restricted common stock. The payment would be made in two phases, 500,000 shares to be issued upon execution of the agreement and 500,000 shares to be issued 180-days after the execution. Moreover, MBS would also be entitled to a success fee, to be paid in both cash and stock, upon execution of successful relationships.