Scrapping for Brazil Talent

Scrapping for Brazil Talent


Eduardo Centola, Goldman SachsInvestment banks are in the grip of a Brazilian frenzy, driven by booming markets and the conviction that the country's economy is finally stabilizing. With few independent local brokers left to be had, the next stage for the business looks to be organic growth. This will see banks build capital and staff in a broad-based push to win market share in advisory, M&A and capital markets. The prize is worthwhile, as evidenced by the numbers driving the expansion. Debt issuance out of Brazil has nearly doubled from $16.2 billion in 2003 to $31 billion in 2005, according to data provider Dealogic. That leap pales in comparison with the growth in equity plac

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