BancBoston Capital, the private equity arm of Bank of Boston, is expanding its operations to include Latin America.
The Boston firm already has a European operation headquartered in London and an Asian arm in Hong Kong.
In Latin America, the firm expects to operate out of Brazil and Argentina. It is expected to concentrate on areas of strength for the firm, including telecommunications, media and transportation sectors and may include participation in privatizations, said a spokeswoman for the firm.
This new effort is being headed by Iain Whitfield, a 17-year veteran of the Bank of Boston. He was most recently head of its transportation division, which provides capital to the industry.
For the next few months, he will remain in Boston while he is staffing the new operations in South America.