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Front Notes

Sometimes an idea for a cover illustration requires a bit of extra cooperation from the subjects. That was certainly the case with this issue’s artwork. When one competing banker explained the success Morgan Stanley achieved in Latin bond underwriting in 1998 by joking that “they must have put steroids in their cereal,” we couldn’t resist […]

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Marka Loses Bet on Real Plan

Brazilian investment bank Banco Marka appears to be one of the first victims of the devaluation of the real, closing its doors in February after racking up a reported 400 million reais in losses in the days after the central bank let the exchange rate float. The central bank was called in to intervene in […]

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