Colombia, Mexico Boutiques Defend Turf
The growth of boutiques in Mexico and Colombia has slowed. Pan-regional players continue to stick to their guns.
The credit crisis left opportunity for boutique investment
banks in markets outside Brazil, though not on the same scale.
In Mexico and Colombia, where an array of specialists sprang
up, new entrants appear to have slowed. Pan-regional players
are sticking to their specialties.
Though global investment banks have revived, LatAm business
across the board has surged. Niche service providers hope this
means more opportunity overall, even if it at the moment it is
more difficult for new entrants.
A year ago it looked like everyone was trying to be a
boutique says Randall Pike, partner at BCP. But
since the new issue business picked up, and prices have
improved, big banks have built up and most boutiques have found
it hard to compete.
For local specialists in the region, restructurings,
bankruptcies and other services to be offered during bad times
are largely a thing of the past....
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