Fitch Ratings is shuffling around some of its Latin American people to reflect shifting activity in the region. In May, Matias Acevedo, a senior director in the Chile office, will join the three-person team in Chicago responsible for the cross-border market. While Acevedo will himself venture into cross-border terrain, his focus will be domestic markets. "He'll be helping out in Mexico and Brazil as we continue to see more business in that area," said Greg Kabance, director of Latin American structured ratings. RMBS in those countries, he noted, will be a major focal point for Acevedo. While the personnel move represents a nudge toward integrating some local and cross-border coverage, Kabance said it does not mark a fundamental strategy shift. The bulk of domestic analysts will remain in the countries they cover.

Even though Chile remains within Acevedo's scope, the agency has tapped Argentine head of structured finance Eduardo D'Orazio to head up Chilean structured finance as well.

Currently, D'Orazio reports to Lorna Martin, who was recently named Argentine country manager, and Kabance. He will also report to Alejandro Bertuol, the new chief of the Santiago office.

Down the road, the agency may hire another analyst in Chile or train an existing one to move into the structured field, Kabance said.

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