Sumitomo Mitsui Banking is starting a bond distribution desk and a securitization business in Brazil as part of an expansion plan to become a meaningful player in the nation’s booming local debt capital markets.
The Japanese bank plans to start structuring products such as asset-backed securities, hoping to capitalize on the growing market and strong prospects for infrastructure investments in Brazil, according to Luciana Massaad, head of Brazil debt capital markets, who said Adriana Madaras was hired to head the distribution unit.
"Now we are baby stepping and doing plain-vanilla bonds,” Massaad said in an interview. "But the more products we develop, the more opportunities we can take.”
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