Goldman's Latin America revenue expands 50%
Hedging contributes to this year's gains, with business picking up steam following election of Trump as US president and rise in market volatility
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GOLDMAN Sachs Group Inc's revenue from Latin America surged 50 per cent this year as the firm helped to structure one of the region's biggest infrastructure financing deals and sold more hedging strategies to clients.
"We're having a record year," Marc Nachmann, who heads Latin America for the New York-based firm, said in an interview. "All the businesses are doing well - banking, fixed income, equity and asset management."
Revenue jumped from 2015 levels as the firm helped structure financing for Colombia's 4G infrastructure programme with three deals totalling US$1.2 billion for highways. Goldman Sachs also made a private equity investment in Tienda Inglesa, a supermarket chain in Uruguay, and helped finance Nubank, a financial technology company in Brazil, with two credit facilities totalling about US$50 million.
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