Investment banking: Goldman boosts Brazil team in big launch
Goldman Sachs is pursuing innovative structures, including LBOs and other transactions not previously executed in Brazil as it seeks to become one of the top three banks in the country.
"We are coming to this market a little later, so we need to make an effort to find out who the best people are and then hire them"
Executing such a deal in Brazil might previously have been beyond the bank, but it is rapidly building its local currency underwriting and distribution capabilities as part of an ambitious plan of expansion.
Goldman Sachs already has a strong investment banking presence in Latin America’s biggest market, particularly in M&A. Now the newly launched Brazil unit will offer a complete range of banking services, including fixed income, equity, commodities and currency trading as well as research, brokerage, derivatives and asset management.