January 17, 2018 |
As international financial institutions return to Argentina, a market that had been all but off-limits for more than a decade, bankers say a rapid surge in competition for deals is pressuring them to hire more people. Brazil’s BTG Pactual, for example, poached staff from the investment bank Puente last year as it looked to build a presence in Argentina.
In Brazil, after weathering the multi-year downturn as best they could, investment banks are finding themselves short of senior executives. Some have tapped rivals for talent. Citi nabbed a three-person team, including the co-head of Brazilian investment banking, Eduardo Miras, from Morgan Stanley in mid-2017, while Bank of America Merrill Ly
As the transaction pipeline grows, investment banks in Brazil and Argentina see tighter races for mandates and a squeeze on fees. But simply hiring more staff may not be the answer