Latin America Awards
|Headline: Latin America Awards
Date: July 2000
Author: Brian Caplen, Michael Peterson
Best domestic bank: Banco Itaú
Best foreign bank: BSCH
Best regional bond house: Morgan Stanley
Best regional equity house: Santander Central Hispano Investment
Best regional M&A house: Goldman Sachs
The struggle of the Spanish banks to establish themselves in Latin America is Wnally paying oV in terms of proWts and performance. This year's awards reXect their gradual winning of the battle to turn the assets they have acquired into names that attract admiration and make a major contribution to the bottom line. With BSCH set to earn $800 million from its Latin banks in 2000, around 40% of total earnings, the Latin strategy can be properly regarded as a success. For this reason BSCH wins the award for the best foreign bank in the region. It also wins individual country awards in Bolivia, Chile and Mexico as well as picking up the best regional equities house award for Santander Central Hispano Investment, its investment bank.
Previously Citibank was the only foreign bank with a continental network and a suYciently diverse product base to be a contender for the best foreign bank award. Citibank retains a powerful position and, as the positive eVects of the merger with Salomon Smith Barney start to come through, may well regain the number one spot in years to come.