Latin America's best investment bank 2019: BTG Pactual
Awards for Excellence 2019
This year, the region’s best investment bank is BTG Pactual. It climbed back to leadership in its domestic market and grew strongly elsewhere in the region.
BTG has also won awards in Brazil and Chile for best investment bank. It has had a strong year in Colombia and something of a breakthrough year in Peru.
Since 2015, when the bank had its crisis and saw the loss of funds under management take it to the precipice, BTG has shifted back to a Latin American focus. Management accepts that BTG had its fingers in too many non-Latin pies. The crisis meant a focus on survival.
To generate liquidity it needed to sell one of its three main businesses: Latin America, the Swiss private bank BSI or the commodities business Englehart. In the end the bank sold BSI to EFG and Englehart was spun off to shareholders.
The sale of the Latin American business was never seriously considered and it provided the bank with the foundation to re-emerge as the region’s foremost investment bank. No other investment bank achieved a top-five league table position in equity capital markets, M&A and debt capital markets.
In ECM, the bank conducted more deals than any other, securing a 10.9% market share. In M&A, the bank’s market share was even better, third-placed with 17.3%. In DCM, the bank got fourth place in the region behind the huge balance sheet banks of Itaú, Bradesco and Santander.
BTG’s chief executive, Roberto Sallouti, says these results show that the bank has achieved its goal of being seen as the Latin American investment bank. The bank now wins big M&A mandates from companies outside the region that believe its local perspective complements a world-class service delivery and culture.
He expects the strong market shares on ECM and DCM will continue to help grow the bank’s share of global trading flows related to the region.