BTG Pactual hires former JPMorgan Brazil head Berquo, source says

Reuters

SAO PAULO, Oct 2 (Reuters) - Grupo BTG Pactual SA, Brazil's largest independent investment bank, hiredClaudio Berquo from JPMorgan Chase & Co, where the seasoneddealmaker remained for about two decades, a source with directknowledge of the situation said on Wednesday.

Berquo will have a "strategic role" in BTG Pactual'sbusiness, with no specific role being assigned to him, said thesource, who declined to be identified because the plans are notpublic yet. The bank declined to comment.

Berquo took over JPMorgan's Brazilian unit in 2009 and inApril became head of private banking for the New York-based bankin Brazil. He was replaced as JPMorgan's senior country officerfor Brazil by veteran banker José Berenguer Neto - himself foryears a senior executive and head of the investment banking andretail banking units at Banco Santander Brasil SA.

Efforts to reach Berquo were unsuccessful.

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