JPMorgan Rio operation loses key executive

An operator at Sao Paulo's Stock Exchange (Bovespa), in Sao Paulo, Brazil.
Nelson Almeida | AFP | Getty Images

André Monteiro has left the largest Latin American alternative investment firm for its largest financial exchange.

Monteiro had been chief risk officer at $7.4 billion Gávea Investimentos, a Rio de Janeiro-based subsidiary of J.P. Morgan Asset Management and affiliate of Highbridge Capital Management. Starting next week, he will lead risk management for BM&FBovespa, the Brazilian publicly traded exchange.

Monteiro worked at Gávea for nine years, most of its history.The firm was co-founded by former Brazilian central bank president Arminio Fraga Neto and Luiz Henrique Fraga in 2003, and they still lead it.

Daniel Tonholo replaces Monteiro. He was the firm's deputy chief risk officer since November 2010.