Deutsche Bank builds back in Brazil and plans new Mexico office
German lender renews focus on LatAm after 2015 withdrawal.
Deutsche Bank plans to invest in Latin America in 2022 as it seeks to maintain the positive momentum of its global emerging markets business.
At the end of that year, Deutsche announced it was to leave Argentina, Chile, Mexico, Peru and Uruguay as part of a reorganization to cut peripheral businesses and exposures. Half of the 10 countries the bank exited as a result were in the LatAm region. Brazil remained the bank’s only regional office and it was drastically downsized, with local trading desks closed.
We’re going to use the success and strength we have in Asia and CEEMEA to keep investing in LatAm
However, the bank’s global emerging markets (EM) investment banking businesses – headed by Sameen Farooqui in Singapore – have been reinvigorated in recent years. According to Gabriel Roitman, head of client coverage and LatAm head of EM origination at Deutsche in New York, this growth to date has largely been driven out of Asia and CEEMEA.