Competitors might have been surprised to see JPMorgan Chase & Co. bankers Ricardo Leoni and Daniel Pombo at the negotiating table earlier this year helping Brazilian mining company Samarco Mineracao SA restructure about $3.8 billion in debt.
After all, restructuring advice isnt what the New York-based bank is known for in Brazil. Leoni and Pombo are trying to change that.
As demand for traditional banking services suffers through a nationwide credit squeeze and the worst recession in a century, global banks such as JPMorgan and Zurich-based Credit Suisse Group AG are trying to elbow in on the top players in the restructuring business, including Moelis & Co., PJT Partners Inc., Rothschild and Lazard Ltd.
As the top bond underwriter in Latin…
Read the full article at: http://www.bloomberg.com/news/articles/2016-09-21/jpmorgan-makes-push-for-debt-restructuring-business-in-brazil