September 1, 2013
History is generally a good guide when trying to make sense of the present or predict the future.
Not so with LatinFinance’s quarter century capital markets league tables. Recent years offer a much better indication of overall leaders for the entire 25-year period.
The reason is obvious: rapid expansion of Latin America’s capital markets, and therefore of transaction volume, has taken place in the past decade, so the tables are necessarily heavily weighted towards recent history.
This is especially true of debt capital markets, where low rates and unprecedented global liquidity have in recent years sent investors looking for yield in Latin markets. It
Latin America’s tumultuous history has proved a tricky environment for investment banks. While a handful of global institutions still dominate, local banks are on the rise. By Ben Miller