MIAMI--(BUSINESS WIRE)--Itaú Private Bank International announced today that Frances Aldrich Sevilla-Sacasa has been named Chief Executive Officer of Itau Private Bank International in Miami, spearheading the Private Bank’s business expansion in Latin America outside of Brazil.
“We are delighted to have Frances join our executive team. Her extensive investment and private banking expertise will be a key asset as we continue expanding our business in Latin America,” said João Medeiros, Head of Itaú Private Bank International. “We are committed to building a world-class private bank and Frances is extremely well positioned to lead our efforts.”
Itaú Private Bank International is expanding its reach throughout the region, strengthening its position as the “Global Latin American Bank.” In just the last two years, the bank has experienced a 63 percent growth in Assets Under Management, a 77 percent growth in revenue, and a 50 percent increase in its Latin American portfolio. Additionally, Itaú Private Bank International has been recognized as the “Outstanding Private Bank in Latin America” by Private Banker International for the last four consecutive years and received the designation of “Best Private Bank in Latin America and Brazil” from both PWM and The Banker magazines.
“Itaú plays a leading role in the region, offering world-class services and Latin American expertise to our clients. Frances brings exceptional wealth management experience crucial for Itaú to continue tapping into the fast-paced economic growth of the region,” said Ricardo Marino, CEO for Itaú Latin America and member of the Itaú Unibanco Executive Committee.
“Itaú has become a globally recognized brand, and a leading wealth management player in Latin America,” said Ms. Sevilla-Sacasa. “I look forward to joining Itaú’s exceptional team, supporting its growth and adding value to its private banking operations.”
Ms. Sevilla-Sacasa has 30 years of experience in financial services, 25 of which are in global wealth management, having served in leadership positions in this sector with firms such as U.S. Trust/Bank of America, Citigroup, Deutsche Bank and Bankers Trust Company. Most recently she served as interim dean of the School of Business Administration at the University of Miami, where she provided leadership and continuity while the University conducted a search for a new dean. Prior to this, Ms. Sevilla-Sacasa served as president of U.S. Trust, Bank of America Private Wealth Management. Previously, she served as president and Chief Executive Officer of U.S. Trust Company when Bank of America acquired U.S. Trust in 2007 and also served on Charles Schwab Corporation's Executive Committee.
Ms. Sevilla-Sacasa holds a B.A. from the University of Miami, an M.B.A. in International Management from the Thunderbird School of Global Management and speaks four languages: English, Spanish, French and Portuguese. She has received numerous awards and recognitions, including The Wall Street Journal - The 50 Women to Watch, and is active in philanthropic and community initiatives throughout the country serving on the boards of non-for-profit organizations.
About Itaú Unibanco and its operations of wealth management
Itaú Unibanco is among the 10 largest banks in the world with a market capitalization of US$ 81.4 billion. It is regarded as one of the 100 most valuable brands in the world, according to BrandAnalytics. Internationalization has been a key factor in the Itaú Unibanco's private banking strategy. Currently present in 21 countries, it has a strong focus on Latin America with full-service operations in Brazil, Argentina, Chile, Paraguay and Uruguay. The Bank also operates private and corporate banking services in North America, Europe, the Middle East and Asia. With more than US$ 90 billion in private banking client assets, it has been recognized as a key player in asset management in Latin America. Itaú Private Bank International has received awards such as Outstanding Private Banking in the Americas, by Private Banker International in 2009 and 2010; Top 5 Private Banking in Latin America by Euromoney in 2009, 2010 and 2011; Best Private Bank in Chile in 2010; Best PR in Peru in 2011 and Best Private Banking in Brazil in 2009, 2010 and 2011. For more information visit www.itau-unibanco.com.br/ri
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