BofA Is No. 1 in Latam Trading Services

Brazil-based BTG Pactual may provide the best research in Latin America, but global banks outshine local firms when it comes to trading services.


Global banks outshine local firms when it comes to the quality of trading services offered to asset managers that invest in Latin America, according to participants in Institutional Investor’s inaugural Latin America Trading Team ranking. Bank of America Merrill Lynch lands in first place, followed by J.P. Morgan in second and Credit Suisse in third. Brazil-based BTG Pactual, which leads this year’s Latin America Research Team, finishes fourth in trading services and is the highest-ranked firm headquartered in the region. Morgan Stanley rounds out the top five. This year, for the first time, II asked participants in the broader research team survey to rank the brokerages they use on the quality of trading services provided. (We also asked them to tell us which firms field the region’s best sales teams; responses to that question were tabulated to produce the Latin America Sales Team ranking.) We received responses from approximately 420 buy-side analysts and money managers at 275 institutions that collectively manage an estimated $259.8 billion in Latin American equities. Roughly 53 percent of the people who cast votes in the research team survey, representing 69 percent of the participating buy-side institutions, answered our question about trading services.

To view the full list of winning firms, click on the Leaders link located in the navigation table on the right.

For information about how we compiled this ranking, click on Methodology.