April 25, 2011
As Latin America's largest economy, Brazil now represents one of the fastest growing sources of growth and opportunity among the major emerging markets. J.P. Morgan Asset Management made a noteworthy commitment to the Brazilian market last year with its acquisition of Gávea Investimentos, a $6 billion hedge fund and private equity firm based in Rio de Janiero. This was one important step in the firm's continuing efforts to have resources on the ground to support our clients in accessing investment opportunities on a global basis.
Two recent articles in the Financial Times (April 18, 2011) provide an excellent overview of J.P. Morgan's global growth strategy and the importance of Brazil to the firm and, we believe, our clients. In the first article, Cláudio Berquó, Senior Country Officer for Brazil, discusses our expansion plans, and in the second article, Mary Callahan Erdoes, Chief Executive Officer, J.P. Morgan Asset Management, speaks to our expansion in Brazil as a critical component in building out our global alternatives platform.
- J.P. Morgan plans to double its head count in Brazil, tapping opportunities in asset management, corporate finance, and other areas. Its overall goal is to establish a footprint that covers 80% of the overall Gross Domestic Product of Brazil.
- The U.S. investment bank increased its resources in the country substantially over the past year and plans to add additional headcount in the medium term.
- The asset management business plans to make several key appointments in the coming months to ensure that we have the local resources necessary to identify and deliver attractive investment opportunities for our clients in this major emerging market.
We encourage our readers to see these two articles for additional insight.