Latin America: Merrill Lynch grows as UBS shrinks

Despite reporting its first annual loss in 2007 and forecasts of further credit write-downs in the first quarter, Merrill Lynch is getting out the chequebook for its Latin American business. The firm has gone on a shopping spree and plucked the cream of the Latin American investment banking crop, especially in Brazil.

But as Merrill Lynch rides a positive wave, Swiss bank UBS faces tougher times ahead in the region, after losing several senior bankers to its US rival.

“We have a much longer-term view compared with the one we had eight to 10 years ago”

Andrea Orcel, Merrill Lynch

Andrea Orcel, global head of origination at Merrill Lynch, tells Euromoney that the bank is determined to emerge from the crisis engulfing the global financial markets in a strong position.

Latin America: Merrill Lynch grows as UBS shrinks

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Latin America: Merrill Lynch grows as UBS shrinks

Thanks for your interest in Euromoney!To unlock this article:

CIB’s CEO Al-Arab on realism, reform and resilience

How banks can make cybersecurity a revenue generator

Awards for Excellence Middle East and Islamic Finance winners celebrate in Dubai

Regulators should be upfront with taxpayers – and admit all deposits are guaranteed

Thanks for your interest in Euromoney!
To unlock this article: