Brazilian Boutique Investment Banks Get Squeezed
The crop of boutiques that sprang up from the bulge bracket wreckage faces fresh competition. They will need relationships, international connections and a proper structure to survive.
by John Rumsey
The brains behind the new pretenders are generally veteran
investment bankers with large client lists, says Jorge Maluf,
partner at recruiter Korn Ferry in São Paulo.
"International banks put the brakes on too hard during the
recession and senior executives became frustrated by the
conservative attitudes and lack of attention from
headquarters," he notes, pointing out this is similar to what
drove the previous wave of openings, many following the 2002
Brazil market crisis.
Boutique banks popped up in post-crisis Brazil like
mushrooms after the rain. G5 Advisors, BR Partners and Orienta
Partners have joined the ranks of an older generation that
include Rothschild, Vergent Partners, Singular Partners, and
Estáter Gestão e Finanças.
Newcomers are already carving a niche out in Brazils
explosive M&A scene. They generally seek to focus on the
middle market, which they say larger investment...
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