Brazilian investment bank BTG Pactual has beefed up its flagship global macro hedge fund with the hire of a European credit trader.
Ben Rick joins the firm as a partner. He'll work on BTG's Global Emerging Market and Macro fund, the firm said.
"European credit situations offer compelling trading opportunities to complement those in emerging markets," Antoine Estier, managing partner, said. "Ben, who is bringing part of his previous team with him, including trading, research and IT development, will be invaluable as we continue to grow our asset management business internationally, and increasingly add new global alternative asset management products."
Rick was formerly head of Bank of America Merrill Lynch's proprietary credit trading desk. The bank shuttered that operation at the end of last year as it moves to come into compliance with new U.S. regulations.