Rogerio Jelmayer and Luciana Magalhaes – The Wall Street Journal, 7/01/2015
The investment banking arm of Brazilian financial firm Itau Unibanco Holdings SA said Wednesday it expects its revenue to rise across Latin America outside Brazil.
Last year, Itau BBA, as the investment bank is known, pocketed 70% of its revenue from operations in Brazil and the rest from other Latin American countries.
“In three to five years we see our operations in Latin America representing around 35% of fees,” Jean-Marc Etlin, vice president of Itau BBA, said at a news conference. Itau BBA is preparing to start operations at its brokerage unit in Mexico with 50 employees, Mr. Etlin said. The bank said it expects more capital market activities in Mexico amid the country’s expected economic expansion over the near term.
Brazil Portal 