The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site.

All material subject to strictly enforced copyright laws. © 2020 Euromoney, a part of the Euromoney Institutional Investor PLC.
Capital Markets

How to make it big

ee-02.gif

Successful foreign involvement in Brazilian investment banking demands some sort of venture with one of the local firms that dominate the market. Banco Pactual is among the most successful of these and Goldman Sachs seems to have recognized this.

There were 11 equity deals in Brazil in 2004. Each of them had at least one Brazilian bookrunner, and a couple had no foreign bank involvement at all. Brazil's Banco Pactual played a part in seven of the 11 deals; the best performance by a foreign bank was that of UBS, which was part of three deals.

Brazil's banking system is dominated by domestic institutions: something that is unusual, if not unique, in Latin America. What really sets Brazil apart is the fact that its dominant institutions include investment banks. Foreigners have a habit of buying them – as Euromoney went to press, an announcement was expected from Goldman Sachs about some kind of merger or joint venture with Banco Pactual.

Take out a complimentary trial

Take out a 7 day trial to gain unlimited access to Euromoney.com and Asiamoney.com analysis and receive expertly-curated updates direct to your inbox.

 

Already a user?

Login now

 

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree