In May this year, when José Olympio Pereira assumed the role of chief executive of Brazil for Credit Suisse, Brazilian financial newspaper Valor Econômico’s headline hailed it as a promotion for the country’s “King of IPOs”. The headline alluded to Olympio (previously co-head of the Swiss bank’s Brazilian investment banking operation) being credited with bringing more than 70 IPOs to market in Brazil since 2004. What the report didn’t consider was the possibility that Olympio’s coronation at Credit Suisse Brazil was coming at the same time as the bank was losing its equities crown.
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