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Latin American investment banking: With dislocation comes opportunity

JPMorgan only one in top five in all categories; Goldman drops out of top 10 in M&A

Competition in Latin American investment banking has never been fiercer, with only JPMorgan showing consistency across all main products, according to Dealogic.

The US firm is the sole bank to be ranked in the top five for debt, equity and M&A for 2009, although Credit Suisse made marginally more money in the year. The two banks remain well ahead of the pack, which now includes institutions such as Santander, Bradesco and Itaú as well as investment banking stalwarts Citi and Bank of America Merrill Lynch.

In M&A, one big name that has dropped out of the top 10 is Goldman Sachs. Goldman has struggled since losing a handful of bankers to Standard Bank, including Eduardo Centola, former co-head of Latin American investment banking. South Africa’s Standard Bank is investing heavily in its Brazilian unit as it seeks to become a leading player in M&A and private equity in Latin America’s biggest market.

LATAM M&A Rankings
Jan 1 to Dec 18 2009 Jan 1 to Dec 18 2008
Rank All adviser parent Deal value Percent Rank All adviser parent Deal value Percent
($mln) share ($mln) share
1 JPMorgan 25,148 24.9

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