Moelis, the boutique investment bank that filed for an initial public offering this month, is set to open an office in Sao Paolo and has appointed three industry bankers to lead an expansion into Brazil.

Otávio Guazzelli and Jório Salgado-Gama have been named as co-heads of Brazil investment banking, Moelis said in a statement on Wednesday. A third coverage banker, Erick Alberti, is also joining the new office.