Veteran traders take Latin path to growth
BCP's small size gives it an advantage when trading the sort of Latin companies it targets - those that operate beneath the big boys' radar - Felix Salmon reports.
RANDALL PIKE DOES not have a meeting to go to. Comfortably and casually dressed, he is in his firm's one meeting room, in which the aroma of fine cigars lingers. He is clearly a man who goes home at night comfortable that his company is in good shape. Pike is relaxed, then, happy to give short expositions on the history of his city's architecture or the problems with introducing oneself to an Englishman with the words "Hi, I'm Randy". But he also runs a company that traded $9.5 billion of securities last year, employs 23 professionals between the main office in Greenwich, Connecticut, and Madrid, and has made money every year since its inception in 1989 despite acting only in the volatile and dangerous world of emerging markets.
Pike met BCP's fellow-founders Bob Bear and Player Crosby in Mexico in 1983, while working for Continental Bank - then the fifth-largest bank in the US. He'd long wanted to work for a boutique and eventually achieved his dream in 1989, when BCP Securities was born. Bear didn't stay long at the firm.