Bringing Panama’s first sovereign followed by a Brady bond exchange was a triumph for BankBoston’s key Latin dealmakers Ignacio Sosa and Stephen DeSalvo. But it’s by no means their only joint enterprise.
Sosa, a Cuban exile who gained notoriety trading Latin debt in the aftermath of the region’s 1980s debt crisis, and DeSalvo, whose formative banking experience was in inflation-ravaged Bolivia, go back a long way together. As raw recruits to BankBoston in the early 1980s, they attended the same training course and struck up an immediate friendship.
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