LONDON Aug 6 Anheuser-Busch InBev, known for its mass market Budweiser beer, is creating a new business unit in the United States devoted to premium beers. The new unit, which will include brands such as Goose Island and Blue Point, will be based in Chicago and led by Felipe Szpigel, who joined the brewer 15 years ago as a global management trainee, according to an internal announcement made on Wednesday and seen by Reuters.
Another internal message announced the departure of Bud Light vice president, Rob McCarthy. McCarthy will be replaced by Alexander Lambrecht.
* Plans trade, farm financing in expansion drive* Caixa seeks fresh capital from Brazil Treasury* Spokeswoman at Caixa not available for commentSAO PAULO, Aug 30 Caixa Econômica Federal, Brazil's largest mortgage lender, will start an investment banking unit in a move to expand into the lucrative business of extending credit to corporations and advising them on capital markets transactions, Valor Econômico newspaper reported on Thursday.
Apart from the creation of an investment bank, Brasilia-based Caixa will expand into farming and trade financing, with the start of disbursements expected in October, Chief Executive Jorge Hereda told Valor in an interview.
According to Valor, banks that enter corporate lending segments more aggressively will enjoy a "competitive advantage" over rivals, now that interest rates in Brazil are a record low. "This is a strategic move that is responsibly daring, and not the by-product of recklessness," he told Valor. Currently Caixa and the National Treasury, which owns a majority of the bank, are negotiating terms of a potential capital injection worth "several billions of reais," Valor said.
A spokeswoman for Caixa was not immediately available to comment on the Valor story. Caixa's move signals that foreign and local banks are heavily betting on investment banking as a source of future earnings, even as Brazil's economy takes longer than expected to emerge from a downturn and competition for mergers and acquisitions and capital markets advisory deals spark a slump in fees.