Brazilian investment banker Samuel Oliveira said Sept. 30that he has stepped down from Banco Indusval SA to launch a firm that specializes inM&A advisory, Reuters reported.
Oliveira, who was a partner at the mid-sized lender andadvisory firm BI&P between 2013 and August, will open the firm with twoother bankers: Gilberto Faiwichow, a former senior vice president at BP&I,who will be the new firm's head of client money management, and Luiz GustavoSaito, who is a former managing director at Rothschild & Co.
The new firm will be called North Stone Participações andwill reportedly focus on M&A, capital markets and restructuring advisory."The retrenchment of some global banks in Brazil leaves plenty of room forindependent advisory shops," Oliveira was quoted as saying in the report.
Banco Indusval recently rejected claims that it could be sold off to China'sShanghai Pengxin Group Co.