Exotix Partners appoints new chairman

Ivan Ritossa, chairman, board of directors of Exotix Partners

Ritossa was previously with Barclays which he joined in 2002. He was a member of the executive committee of Barclays Capital responsible for Latin America, Central and Eastern Europe, the Middle East and Africa across Investment Banking, Equities and FICC. He was also a non-executive director of ABSA Group in Africa during which time he oversaw ABSA Capital's development into a leading pan-African investment bank. Ritossa is currently a non-executive director of ICAP.

On joining the board Ritossa will buy a 10% stake in Exotix and Phil Southwell, CEO of Exotix, has acquired a 5% stake.

Broad knowledge

Commenting on the appointment, Southwell said: "We could not be more pleased that Ivan has agreed to serve as chairman. His remarkable knowledge of emerging and frontier markets and his broad knowledge and perspective on the changing banking landscape will be of great value to our organisation."

Ritossa added: "I am delighted to be joining the board and becoming chairman of the leading emerging, frontier and illiquid markets specialist merchant bank. I look forward to working with the Exotix management team to continue to grow and expand the business."

Ritossa has worked in investment banking for over 30 years, based in the UK, Asia and Australia. He has been a member of several prominent industry committees including the Bank of England Foreign Exchange Joint Standing Committee, the New York Federal Reserve Foreign Exchange Committee and the Singapore Foreign Exchange Markets Committee. He has an honours degree in Finance from the University of New South Wales, Australia.