December 1, 2001
Big Wall Street and European investment banks are enduring the worst period in years for mandates in Latin America. The multi-billion dollar privatizations, mergers and acquisitions, and bond deals that sustained the banks for the last five years have vanished.
But smaller banks and boutiques, with deals too small to interest the bulge bracket investment banks, are busy. Modestly sized, family-run firms in the region are still looking to make acquisitions and Central American economies are still issuing debt both locally and internationally.
Scot Fischer, head of Latin American investment banking at Tampa-based Communications Equity Association (CEA), says he is seeing a steady
In the shadows of the heavy hitters, investment banking boutiques aggresively court small corporate and sovereign mandates. Their revenues are modest but they have plenty of work despite the lean Latin American market.