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BOND HOUSE - Ahead of the Trend

Jan 19, 2012

Bank of America Merrill Lynch

BBankers covering LatAm DCM over the last year or so shouldn't really grumble. Cross-border volumes may not have reached 2010's record levels, but they were not far off despite the periodic market shutdowns caused by Europe's sovereign debt crisis.

In this environment, several leading banks excelled as they battled for mandates on a wide variety of corporate credits and sovereign names. Yet Bank of America Merrill Lynch (BAML) stood out among the pack for the diversity and complexity of transactions it undertook during the qualifying period.

Not always the largest volume generator, the shop also surprised by pushing large competitors to top the cross-border-border DCM rakings. During the period under consideration, BAML could boast $10.39 billion in volume from 47 deals, representing a 13.09% percent share, followed by JPMorgan and then Deutsche Bank, according to Dealogic data.

"We are not the biggest lender in LatAm,"...

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“The crisis has been a setback for reserve diversification."

Jan Dehn, Ashmore Investment Management