Exotix CEO Philip Southwell Steps Down After 18 Months

Philip Southwell is stepping down as chief executive officer of Exotix Partners LLP, after leading the London-based merchant bank that’s expanding in frontier markets for 18 months.

Southwell, who joined Exotix in July 2013 from Bank of America Corp., will remain as a consultant to the bank, the company said in an e-mailed statement yesterday. Executive Chairman Ivan Ritossa will continue to be executive chairman and will help with the CEO functions, the bank said.

Southwell was previously CEO for the Gulf Cooperation Council region at EFG-Hermes Holding SAE before joining Bank of America in May 2011 as country executive for the United Arab Emirates.

Exotix hired Morgan Stanley’s Fabrizio Ferrero in September as head of investment banking for Europe, the Middle East and Africa.

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