Mexican reform anticipation sparks hiring race
Capital markets businesses are bulking up their deal-making capacities as structural reforms advance
A string of new hires in the Mexico offices of investment banks
and law firms is underscoring a growing bid for talent in the
country as the country forges ahead with structural reforms
that could attract billions in foreign investment.
|| Source: Gabriel Flores Romero
Juan Carlos Merodio of M&L Estudio Legal has been chosen
advisor to DLA Piper in Mexico, the latest in a series of
new appointments to reinforce Mexican teams.
He has been brought in to help develop DLA's strategy,
including in oil and gas and telecommunications areas in
Mexico, which has become a favorite among investors in recent
Evercore has hired Scotia's Randy Crath as a senior managing
director in its oil and gas group in Houston to "help build
momentum" in Mexico, Brazil and Europe, the investment banking
firm said this week.
The appointments come as investment banks and law firms step
up a bid for talent in Mexico as the government moves ahead
with plans to implement structural reforms in the energy,
telecommunications and other sectors that will likely attract a
flurry of new investments.
Itau BBA opened a broker-dealer in Mexico in January,
appointing Alberto Mulas as chief executive. The same month,
BTG Pactual officially started operations in the country
with a team of 25. And the chief financial officer of Mexico's
social security institution,
Mauricio Alazraki, joined Santander's Mexico office in
February to cover energy clients.
Among law firms,
Holland & Knight nabbed a team of five capital markets
lawyers from DLA Piper to set up a Mexico office in the
Haynes and Boone, meanwhile, has hired former Shell executive
Carlos Canales and Rafael Carmona from a local firm this
year, and said in March that it was on an "aggressive pursuit"
for more staff in its Mexico City office.
One senior banker in New York recently told
LatinFinance that missing mandates from some of the
large-scale energy and infrastructure transactions ahead in
Mexico was what kept him awake at night.
"Not a lot has happened yet [in Mexico]," he said. "But if
you don't get wallet share in Brazil and Mexico, then you're
not a world-class investment bank." LF