Euromoney Awards for Excellence 2002: Latin America

Awards for Excellence 2002


Best bank: Santander Central Hispano
Best debt house: Citigroup
Best M&A house: JPMorgan
Best equities house: UBS Warburg
Best risk management and treasury house: JPMorgan
Best bank at transaction services: Citigroup
Best bank at cash management: Citigroup

Latin America is a continent of dashed expectations. It has effectively been in a recession for the past five years and there’s still precious little sign of recovery. Argentina’s default at the end of 2001 was, to many, the final nail in the coffin: with hindsight, those banks that abandoned the region at the onset of the Asian crisis in 1997 were simply prescient.

Citibank in Argentina: despite its huge losses Citigroup will stay on in the country

Corporate activity, whether in the equity or M&A markets, remains negligible by global standards, so the big two awards in the region are those for best bank and best debt house.