Stephen Dizard, Salomon Smith Barney Stephen Dizard started Salomon’s emerging markets trading operation in 1984, and currently heads the emerging markets desk in the fixed income trading department. Before joining Salomon, he was a vice president in international investment banking at Lehman Brothers Kuhn Loeb. Below, he recalls the moment when he and his fellow […]
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In their own words. (Ted Truscott)
Ted Truscott, Scudder, Kemper InvestmentsTed Truscott is a managing director of Scudder, Kemper Investments, Inc., which now manages over $200 billion in assets globally. While these days Truscott helps run the company’s financial services, health care and technology funds, back in the early 1990s he was lead portfolio manager at Scudder’s closed […]
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In their own words. (Timothy Heyman)
Timothy Heyman Timothy Heyman went to Mexico in 1976 with English investment bank Roth Strauss. He left that bank in 1979, and then spent 11 years with Estrategia Bursatil, starting as a research analyst. He rose to head of research and then head of mutual fund operations, before being approached in 1990 […]
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In their own words. (Victor Segal )
Victor Segal, Singer and Friedlander As international director at the London investment bank Singer and Friedlander, Victor Segal was one of the pioneers of the LDC debt trading market in the 1980s. From his office in the heart of London’s “City” financial district, Segal traced the evolution of that market into the […]
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In their own words. (William Rhodes)
William Rhodes, Citibank Citibank’s William Rhodes was a central figure in the resolution of Latin America’s debt crisis throughout the 1980s. His determination, tenacity, familiarity with the region and sheer refusal to take no for an answer are all characteristics that his contemporaries cite as key traits which allowed him to bring […]
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In their own words. (Winston Fritsch)
Winston Fritsch, Dresdner Kleinwort BensonAs Economic Policy Secretary for then-Finance Minister Fernando Henrique Cardoso, Winston Fritsch helped direct the creation and implementation of the Real Plan. Currently head of Dresdner Kleinwort Benson do Brasil, he is now engaged in trying to capitalize on the changes in the investment banking environment which the […]
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In their own words. (Winthrop Smith)
Winthrop Smith, Merrill Lynch Win Smith is chairman of Merrill Lynch International and executive vice president of the international private client group. His earliest recollections of Latin America are from 1956, when he sailed into Rio as a seven-year-old on the S.S. Rio on the old Cunard lines, during a trip with […]
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February 1998
Bond trading volumes and issuance collapse following the
Russian default of August 1998. Long Term Capital Management fails, wiping out leveraged investors in the emerging markets.
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Archive, 1998: The Debt Roulette
Asia’s crisis shocked investors and drove liquidity out of the market and volatility through the roof. Will Latin American debtors be able to refinance or repay their maturing obligations in 1998?
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The Debt Roulette pt2
Faced with $170 million in debt coming due in 1998, Guillermo Gotelli, the straight-shooting president of Argentine athletic footwear company Alpargatas, had a cold realization: because the extreme turmoil in Asian markets was likely to keep international volatility high and liquidity low well into into the year, unusual measures would have to be taken if his company were to cover its debts. In short, extraordinary conditions required extraordinary actions