Latin America Group
I have an offer for a product group at a BB. The experience was great and I learned a lot and loved the work/people/etc.
I thought about transferring to the Latin America group in this same bank. From talking to people, I learned that I would be traveling a lot/working directly with senior management, working less hours (~20 a week less). At the same time, I am not sure if the exit opportunities are as good (most people go to business school or stay as an associate) and the group is tiny.
Wanted to hear everybody's thoughts on this. I need to decide in a few days whether I want to transfer to this group.
It might be best not to upset the apple cart at this point and just take what you have. I have a friend at a BB who spent a year in the group he summered in and subsequently got an offer for, then moved to a group that was small, more tight knit with few hours and a much larger potential to advance with no road blocks.
Maybe switching wouldn't be a big deal but you have to ask yourself if moving to the new group is worth having your offer pulled (might not be likely) or working indefinitely with people who know you don't want to be there. Good luck.
Regards
My roommate is in a latam group. He tells me that latam banking in NY comes down to two banks: JPM and CS (he said also that all others REALLY suck. They mostly get league table credit for providing deal financing - think Santander, or through cross-boarder deals where the latam team doesn't do crap but shares/steals credit from domestic teams simply because the deal happened in the region - think DB. I suppose one would indeed work less hours at such places).
Both JPM and CS latam hours are horrible, same as domestic. You're correct about the traveling/more exposure to senior management. He also noted that proficiency in Portuguese and/or Spanish are unofficial requirements for these two groups.
Good luck!
You don't think Citi or BAML is strong in LatAm?
Trying to bring this topic back. Would appreciate any insight. Do you think BAML or Citi is stronger in LatAm? And which would have better exit opps to PE.
Latin American Groups (Originally Posted: 01/27/2007)
Hi,
I'm just curious if most banks offer this group. Is it difficult for an analyst who has a desire to work in this group to be placed in it? Are there special requirements or anything that makes it different than other groups? Specifically if possible Merrill Lynch. Thanks a lot
Fluency in Spanish
Fluency in Portuguese is also very important as a lot of what they do pertains to Brazil. Merrill is strong from what I hear, however JPMorgan is the strongest.
UBS intends to get a larger chunk of the Brazilian pie through their acquisition of local IB Pactual.
CS definitely has the strongest latin/south american franchise
2 Brazilian friends tell me that CS = Banco Garantia (CS bought the bank to be a player in Brazil). Their individualistic culture sucks and that's why they left for JPM, ML respectively.
CS is by far the best emerging markets player, took it over jpm nyc
UBS currently rules Brazil because they bought pactual, others that are active are JPM, Citi and ABN AMRO - Banco Real. Don't know what the deal is for the other countries in Latin A.
Are you from Brazil? Brasileiro?
nao, sou holandês but worked in Sao Paulo for a couple of months at ABN AMRO-Banco Real
CSFB and UBS Pactual are responsible for 90% of all the deals. Goldman is coming back but theyre still too small. The same for Lehman. The Citigroup is a big disgrace after they hired half of Goldmans bests and still got nowhere.
I know BNP Paribas is a french bank, but don't they have a strong footprint in Latin America? Wrong?
I know its been a while since this thread has been touch but was wondering what you think between Citi and BAML in LatAm. Who is better with regards to Investment Banking.
Trying to bring this topic back. Would appreciate any insight. Do you think BAML or Citi is stronger in LatAm? And which would have better exit opps to PE.
Yeah I know CS and JPM are probably strongest and then comes Citi and BAML. But I'm wondering in terms of M&A do you think Citi or BAML is stronger.
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