equipe

TEAM

Inserted in an environment that stimulates overcoming challenges, combined with a diverse and highly successful and experienced group, Leste’s team seeks to generate consistent long-term alfa in each and every area of its expertise.

Partners and Associates

Alan Gandelman
Carlos Lustre

Product development & Investor Relations for structured products at Leste. With over 18 years of experience in the financial market, Mr. Lustre has joined Leste in January 2018 to develop and distribute structured products. Prior to that, he was responsible for the international business development and the distribution team at Votorantim Asset (VAM). Before VAM, he worked as Product and Sales director at Stratus Investments (private equity), partner at Fram Capital and relationship and product manager at Itau Asset Management, from 2000 and 2011. He was member of Anbima’s Social Security Committee on behalf of Votorantim Asset. He joined Leste in 2018. He holds a Bachelor in Mechanical Engineering from USP and MBA from IBMEC_INSPER.

Carlos Mendes

Mr. Mendes has more than 25 years of experience in the U.S. and Brazilian financial markets.  Before joining Leste in 2019, Mr. Mendes started his career as an equity trader for Banco BBA, after which he moved to Banco Patrimonio Salomon Brothers where he was responsible for Equity Trading and Sales.  In 1996, Mr. Mendes joined the US$ 1 billion hedge fund, Linear Investments, as Partner and Co-CIO. In 2003, Mr. Mendes returned to Banco BBA as Head of International Fixed Income, where he helped propel the Bank into a leadership position for Brazilian Corporate and Sovereign new issues. After the merger of Itau Unibanco, Mr. Mendes became a Partner and Director at BR Partners Investment Bank. Mr. Mendes later moved to the United States to develop the International Fixed Income business at XP Investments before joining Leste Capital Management. Mr. Mendes has an Economics degree from FEA/USP and an MBA from Duke University.

Jessyca Correia

Partners and Associates

Emmanuel Hermann
CEO

Emmanuel HermannCEO and founder of Leste, Mr. Hermann has an extensive experience in the Financial Markets. He initiated his career at Banco Pactual in 1992 as a fixed income analyst. As Head of the Asset Management division, he became a Partner of the bank in 1998. He was then the co-Head of the Equities division between 1998 and 2006. After the UBS acquisition of Banco Pactual in 2006, Mr. Hermann became the Head of Global Emerging Markets Equities, Equity Derivatives Latam and Structured Products desks. As a founding Partner of BTG Asset Management in 2009, he led the Global Equities desk. After BTG bought Banco Pactual back from UBS, Mr. Hermann became a Director and a member of the Board of the bank until 2014. In that same year he founded Leste.

Alessandra Souza
CFO

Alessandra SouzaMs. Souza initiated her career at Banco BBM in 1995. She moved to Banco Pactual in 1998 and worked as equities funds’ risk analyst, derivatives trader, equities’ analyst and portfolio manager of Latam equities portfolios. In 2007 she joined the team of Paineiras Asset Management as a partner and equities’ portfolio manager. Between 2009 and 2011, Ms. Souza acted as Chief of Staff at the Finance Secretary of the Rio de Janeiro, where she worked on restructuring the finances of the city and implemented in key programs as “Nota Carioca” and “Rio Investors Day”. Ms. Souza is the director responsible for portfolio management, holds a BS in Industrial and Electric Engineering from PUC/RJ and Masters in Economy from FGV/EPGE-RJ.

Marcelo Ganem
CRO

IMGEquipe-Marcelo_GanemCRO at Leste. Mr. Ganem has a robust background in financial markets, focusing on investment analysis and risk management. He was a partner and Investment Manager at Latitude GF, partner and Portfolio Manager of Fixed Income and Foreign Exchange at Paraty Investimentos, and Chief Risk Officer at Fiducia Asset Management. He worked as Market Risk Manager for Bank of America in Latin America. Mr. Ganem has a BS in Civil Engineering from PUC-RJ, an MBA in Finance from COPPEAD/UFRJ, a Master of Science Degree in Mathematics from IMPA and a Doctoral Degree in Industrial Engineering from PUC-RJ.

Tainá Camargo
CCO

Tainá CamargoHead of Legal & Compliance at Leste. Ms. Camargo is a lawyer with focus in Corporate Law and Financial Markets Law. She initiated her career at Xavier, Bernardes e Bragança law firm in 2006. In 2007, she joined Vieira, Rezende, Barbosa & Guerreiro Lawyers as an associate partner of the corporate and financial markets department. Ms. Camargo then worked as a credit analyst at JGP in 2014. She is a lawyer, holds an LLM degree in Corporate Law from UERJ, and holds an MBA in Finance from IBMEC-RJ.

Partners and Associates

Emmanuel Hermann
CIO

Emmanuel HermannCEO and founder of Leste, Mr. Hermann has an extensive experience in the Financial Markets. He initiated his career at Banco Pactual in 1992 as a fixed income analyst. As Head of the Asset Management division, he became a Partner of the bank in 1998. He was then the co-Head of the Equities division between 1998 and 2006. After the UBS acquisition of Banco Pactual in 2006, Mr. Hermann became the Head of Global Emerging Markets Equities, Equity Derivatives Latam and Structured Products desks. As a founding Partner of BTG Asset Management in 2009, he led the Global Equities desk. After BTG bought Banco Pactual back from UBS, Mr. Hermann became a Director and a member of the Board of the bank until 2014. In that same year he founded Leste.

André Cardoso
Quant

Mr. Cardoso has over 17 years of experience in financial markets. He joined Banco Pactual in 2003 as a Fixed Income analyst and then moved on to the Asset Management division of UBS Pactual Bank where he was a Co-Portfolio Manager of the Fund of Funds. From 2008 to 2009 Mr. Cardoso was the Global Risk Manager of Emerging Markets at BTG Pactual Bank and then joined the Portfolio Management team responsible for Asia Pacific and Latin America until 2015. From 2015 to 2017, Mr. Cardoso was a Portfolio Manager at Leste Global Investments before leaving to form own Investment firm in the USA. In 2019, Mr. Cardoso joined Leste Capital Management as a Portfolio Manager. Mr. Cardoso holds a BS in Economics from IBMEC (Brazilian Institute of Capital Markets).

Guilherme Arruda
US Equities

Mr. Arruda has over 17 years of experience in financial markets. He began his career at BTG Pactual in 2002 where he worked for nearly 8 years in Equity Research covering Consumer Staples and Discretionary sectors. During this period, Mr. Arruda participated in numerous IPO’s led by the bank and was a member of the “Best Research Team” in Brazil for four consecutive years according to Institutional Investor magazine. Following BTG, he worked as the Investor Relations Director for JBS where he had a leading role in a US$ 1 billion follow-on equity offering and a US$ 900 million debt offering for Unidas, S.A.. Finally, Mr. Arruda was a Senior Investment Banker for Banco Brasil Plural and for Banco Modal, focusing on originating M&A and Private Placement transactions in the Consumer Sector. He joined Leste Capital Management’s Miami office in April 2017, where he manages a portfolio of US Equities, focused on REITs, Hospitality and Specialty Finance. Mr. Arruda earned his B.A. in Business Economics from University of California, Los Angeles.

Gustavo Reis
Chief Economist

Gustavo ReisChief Economist at Leste Global Investments. Mr. Reis initiated his career as Brazil Economist at Banco Pactual. He then worked as Europe Economist at Lehman Brothers and as US Economist at Barclays Wealth in London. He later joined Bank of America Merrill Lynch in New York as Senior International Economist, covering the world’s largest economies and developing state-of-the-art monitoring tools. Mr. Reis holds a BBA from UFRJ, a Master of Science degree in Economics from EPGE/FGV and a Master of Science degree in Econometrics and Mathematical Economics from the London School of Economics.

Luiz Felipe Caetano, CFA
Credit, Rates & FX

Luiz Felipe CaetanoPortfolio Manager of Credit Trading and EM Macro at Leste Global Investments. He started his career in 2009 as a trainee at Itaú BBA in the Sales and Proprietary Trading Desk areas. In 2010 he moved to the Product Structuring group, which supported the entire proprietary trading desk at the bank. He was responsible for managing products used by the proprietary trading desk and was responsible for managing the relationships with prime brokers and other financial markets clients. He holds a BBA from Insper and is a CFA charterholder.

Marcelo Oliveira, CFA
Quant

Mr. Oliveira has 13 years of experience in financial markets with a focus on Quantitative Trading. He started his career as a Front-Office System Analyst at Banco Pactual in 2006. In 2011, Mr. Oliveira worked on the Equity Trading Desk at BTG Pactual London (UK Office). Upon returning to Brazil in 2012, he joined BTG’s Equity Derivatives Trading Desk with a focus on Arbitrage and Quantitative Trading. He left BTG in 2016 to set up his own quantitative trading boutique in the USA. In 2019, Mr. Oliveira joined Leste Capital Management. Mr. Oliveira holds a BS in Computer Science from PUC-RJ and is CFA charterholder.

Michael Bancroft
European Equities

Michael BancroftHead Portfolio Manager of Corporate Fundamentals at Leste Global Investments and manager of the London Office. He has vast experience in the financial markets. He started his career as a banker in Equity Capital Markets at UBS. 5 years later he joined JP Morgan on the equity derivatives sales & trading desk. In 2003 he joined a new hedge fund launch in London, Polygon, to trade their soft catalyst and capital structure portfolios. He moved with them in 2006 to establish and co-run their HK office. In 2009 Michael joined a long only asset manager in Switzerland as partner, returning to the UK in 2011 to join BTG Pactual, that was establishing their equity trading business in London at that time, and was responsible for convertible bonds and capital structure. He left BTG in 2014 to set up his own fund as CIO with two former colleagues. Based in London, he has joined Leste in 2016.

Paulo Berardo
Quant

Mr. Berardo has 15 years of experience in financial markets. He started his career at Banco Pactual as an equity analyst in 2003 and then later joined the Equity Desk to build a portfolio based on quantitative analysis. Mr. Berardo later participated in the foundation of BTG Asset Management and then became the Head of Arbitrage, Quantitative and Risk Arb Desks at BTJ Pactual. Mr. Berardo graduated with a degree in Economics from PUC-RJ.

Philip Sheridan
European Equities
Rodrigo Bensusan
Equities, Rates & FX

Rodrigo BensusanHead Portfolio Manager of Global Macro at Leste Global Investments. Mr. Bensusan has a robust experience in the financial market, with a focus on global markets. He was an Emerging Markets Debt Trader at Banco Pactual and JGP, where he traded during several market crises, including the Russian crises, Argentine Bankruptcy, and the collapse of Brazilian assets in the period before the election of former President Lula in 2002. He then worked for Deutsche Bank in Brazil, in the global sales division. After Deutsche Bank, he co-founded BR Investimentos, an independent investment firm that was later sold to Bozano Investimentos. Mr. Bensusan holds a BS in Mechanical Engineering from PUC-RJ.

Partners and Associates

Stephan de Sabrit
Structured Credit

Stephan de SabritHead of Leste Credit. Mr. de Sabrit initiated his career at Banco Paulista working in sales from 1997 and 1999. He then joined Unibanco/Credibanco´s proprietary trading desk, trading Brazilian Sovereign and Corporate credit bonds. In the year 2000, Mr. de Sabrit was one of the founding partners of Bulltick Capital Markets as head of the Brazil operations, and played an important role in building a USD 980MM asset backed securities fund. In 2007 he became the managing director of Planner Investment Banking in São Paulo, Brazil, where he coordinated the issuances of over R$ 2 Billion of local debt. In 2009 Mr. de Sabrit joined Polo Capital, a Brazilian based Hedge Fund, as the portfolio manager for the structured credit funds, where he ran a portfolio of R$ 1.3 billion. Mr. de Sabrit holds a BBA from FAAP.

Breno May
Structured Credit
Paulo Chi, CFA
Structured Credit

With over 8 years of experience in the financial market, Mr. Chi worked from 2011 to 2015 as senior credit and structured finance analyst at GPS, a Brazilian wealth management company from the Julius Baer Group, being responsible for the analysis and co-management of a USD 1,7 billion credit portfolio. From 2011 to 2012 he was a portfolio manager of credit funds at Itaú Asset Management  being responsible for the co-management of USD 20 billion. Previously he worked as a structuring analyst and a back-office analyst at mid sized banks and at a small asset management.  He holds a Bachelor’s degree in Industrial Engineering from USP.

Roberto Watanabe
Structured Credit

Mr. Watanabe has over 25 years of experience in credit analysis and capital markets in both the US and Brazilian financial markets. Mr. Watanabe started his career as an investment banking associate at Wachovia Securities in Atlanta, Georgia where he focused on M&A, loan syndication and high yield. Then in 2003, he moved to New York to join Moody’s Investor Services as lead analyst for Latin American structured finance. In 2006, Mr. Watanabe joined Deutsche Bank Securities in New York in their securitized products group as VP for Latin America. In 2008, he worked as a capital markets specialist at Planner Investment Bank in São Paulo, and from 2009 to 2018, Mr. Watanabe worked as a co-portfolio manager of a BRL 1.3 billion portfolio of structured credit at Polo Capital Management in Rio de Janeiro. In 2019, Mr. Watanable joined Leste to focus on structured credit. Mr. Watanabe holds a Business Administration degree from EAESP/Fundação Getulio Vargas.

Partners and Associates

Leonardo Viveiros
Litigation Finance

Head of Leste Litigation Finance. Mr. Viveiros has a robust experience in litigation. He initiated his career at Taunay, Sampaio e Rocha Advogados law firm in 1995. He was then responsible for the Corporate Litigation and Arbitration division at the Rio de Janeiro office of Xavier, Bernardes, Bragança Advogados. In 2012 became a partner at SLK, a law firm with focus in civil and strategic corporate litigation and arbitration. Mr. Viveiros is a lawyer from PUC-RJ, holds a graduate degree in Corporate Law from IBMEC-RJ and specialization in tax law from IBET.

Clarissa Mesquita
Litigation Finance
Marcela Kohlbach
Litigation Finance
Marianna Marra
Litigation Finance
Pedro Cavalcanti Rocha
Litigation Finance

Mr. Rocha is an experienced litigator focused on arbitration and commercial litigation. He holds a Master´s degree in Civil Procedure Law at Rio de Janeiro State University, a specialization in Civil Procedure Law at Pontifical Catholic University of Rio de Janeiro (PUC-Rio) which is the same institution where he graduated in law and journalism. Mr. Rocha teaches Civil Procedure Law to graduate and post-graduate students at PUC-Rio and arbitration classes at Rio de Janeiro BAR School of Law (ESA – OAB/Rj). He is also author of several articles involving themes related with arbitration and litigation.

Renata Szczerbacki Setton
Litigation Finance

Partners and Associates

Fabio Bailune
Real Estate Brazil

Fabio BailuneHead of Real Estate Brazil at Leste. Mr. Bailune was responsible for the research and new business structuring divisions at Global Equities, with an AUM of R$ 300MM, between 2008 and 2011. He then worked at Banco Máxima, being responsible for the Real Estate new business structuring division and acting as a credit analyst at the validation of the Real Estate assets posted as collateral. Mr. Bailune holds a BBA from IBMEC-RJ and holds an MBA degree in Corporate Management from FGV-RJ.

Stephan de Sabrit
Real Estate US

Stephan de SabritHead of Real Estate US at Leste. Mr. de Sabrit initiated his career at Banco Paulista working in sales from 1997 and 1999. He then joined Unibanco/Credibanco´s proprietary trading desk, trading Brazilian Sovereign and Corporate credit bonds. In the year 2000, Mr. de Sabrit was one of the founding partners of Bulltick Capital Markets as head of the Brazil operations, and played an important role in building a USD 980MM asset backed securities fund. In 2007 he became the managing director of Planner Investment Banking in São Paulo, Brazil, where he coordinated the issuances of over R$ 2 Billion of local debt. In 2009 Mr. de Sabrit joined Polo Capital, a Brazilian based Hedge Fund, as the portfolio manager for the structured credit funds, where he ran a portfolio of R$ 1.3 billion. Mr. de Sabrit holds a BBA from FAAP.

Felipe Belo
Real Estate Brazil
Ian Paz
Real Estate Brazil
Lucas Christ
Real Estate Brazil

Partners and Associates

Bernardo Rodenburg
Private Equity

Bernardo RodenburgHead of Private Equity at Leste. Mr. Rodenburg has a vast experience in the legal and financial departments. He initiated his career at Barbosa, Müssnich & Aragão law firm in 2002, where he stayed until 2007, with focus in partnership law and mergers and acquisitions. He worked in other renowned law firms, such as Skadden, Arps, Slate e Meagher & Flom LLP. In 2007, he joined Opportunity bank, where he was responsible for investments in the Private Equity division. In 2010, he joined Vinci Partners, an Asset Management firm, and in 2011 he founded his first company in the agribusiness sector. Mr. Rodenburg is a lawyer from PUC-RJ and holds an MBA from Stanford Graduate School of Business.

Felipe Dale
Private Equity

Mr. Dale has more than 10 years of experience in Private Equity, Equity Research and Portfolio Management. He started his career at BTG Pactual in 2006, as a Financial Analyst. After working as a Senior Equity Analyst at Inox Global Capital Management in London, he joined Fides Asset Management in 2011 as a partner responsible for the areas of consumption, pulp & paper, education and shopping malls. He joined Leste Private Equity in May/2015. Graduated in production engineering at PUC-rio and holds a master’s degree in finance from the London Business School.

Pedro Tizzot
Private Equity
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