Itau Asset Management Unit Said to Hire Castro Cunha From BofA

Itau Asset Management hired Virgilio Castro Cunha, the former head of Brazil economics and fixed-income strategy at Bank of America Corp. in Sao Paulo, according to a person familiar with the matter.

Castro Cunha will work for Itau, Brazil’s second-largest asset manager, as a fixed-income money manager in Sao Paulo, said the person, who asked not to be identified in accordance with company policy. He holds a master’s degree in economics from the University of Chicago.