An investment bank is a financial services company or corporate division that engages in advisory-based financial transactions on behalf of individuals, corporations, and governments. Traditionally associated with corporate finance, such a bank might assist in raising financial capital by underwriting or acting as the client's agent in the issuance of securities. An investment bank may also assist companies involved in mergers and acquisitions (M&A) and provide ancillary services such as market making, trading of derivatives and equity securities, and FICC services. Most investment banks maintain prime brokerage and asset management departments in conjunction with their investment research businesses. As an industry, it is broken up into the Bulge Bracket, Middle Market, and boutique market.
The Argentine Great Depression was an economic depression in Argentina, which began in the third quarter of 1998 and lasted until the second quarter of 2002. It followed the fifteen years stagnation and a brief period of free-market reforms.
Brady bonds are dollar-denominated bonds, issued mostly by Latin American countries in the late 1980s. The bonds were named after U.S. Treasury Secretary Nicholas Brady, who proposed a novel debt-reduction agreement for developing countries.
Cleary Gottlieb Steen & Hamilton LLP is an international white shoe law firm headquartered at One Liberty Plaza in New York City. The firm currently has additional offices in Washington, D.C., Hong Kong, Beijing, London, Rome, Milan, Brussels, Moscow, Frankfurt, Cologne, Paris, Buenos Aires, São Paulo, Abu Dhabi, and Seoul. It employs over 1,200 lawyers worldwide. It was the first U.S. firm qualified to practice law in Japan, and it has represented governments throughout Latin America.
Distressed securities are securities over companies or government entities that are experiencing financial or operational distress, default, or are under bankruptcy. As far as debt securities, this is called distressed debt. Purchasing or holding such distressed-debt creates significant risk due to the possibility that bankruptcy may render such securities worthless.
A vulture fund is a hedge fund, private equity fund or distressed debt fund, that invests in debt considered to be very weak or in default, known as distressed securities. Investors in the fund profit by buying debt at a discounted price on a secondary market and then using numerous methods to gain a larger amount than the purchasing price. Debtors include companies, countries, and individuals.
The Argentine debt restructuring is a process of debt restructuring by Argentina that began on January 14, 2005, and allowed it to resume payment on 76% of the US$82 billion in sovereign bonds that defaulted in 2001 at the depth of the worst economic crisis in the nation's history. A second debt restructuring in 2010 brought the percentage of bonds under some form of repayment to 93%, though ongoing disputes with holdouts remained. Bondholders who participated in the restructuring settled for repayments of around 30% of face value and deferred payment terms, and began to be paid punctually; the value of their nearly worthless bonds also began to rise. The remaining 7% of bondholders were later repaid in full, shortly after right-wing, US-aligned leader Mauricio Macri came to power in December 2015.
The Latin American debt crisis was a financial crisis that originated in the early 1980s, often known as La Década Perdida, when Latin American countries reached a point where their foreign debt exceeded their earning power, and they were not able to repay it.
Robert L. "Nob" Rauch is noted as a flying disc sports player/administrator and member of the Ultimate Hall of Fame.
David Martínez Guzmán is a Mexican investor who is the founder and managing partner of Fintech Advisory, a firm that specializes in corporate and sovereign debt. Fintech has offices in London and New York City, and he currently divides his time between those two cities.
Dennis P. Lockhart is an American. He was the 14th President and CEO of the Federal Reserve Bank of Atlanta, serving from March 1, 2007, through February 28, 2017.
A sovereign default is the failure or refusal of the government of a sovereign state to pay back its debt in full when due. Cessation of due payments may either be accompanied by that government's formal declaration that it will not pay its debts (repudiation), or it may be unannounced. A credit rating agency will take into account in its gradings capital, interest, extraneous and procedural defaults, and failures to abide by the terms of bonds or other debt instruments.
LatinFinance is a source of intelligence on the financial markets and economies of Latin America and the Caribbean.
Daniel Marx is the former Secretary of Finance of Argentina and he is currently Executive Director of Quantum Finanzas, a financial services firm in Argentina and the region which is part of a global network led by Evercore Partners and g5Advisors (Brazil). He is also a consultant and advisor for multiple multilateral institutions such as International Development Bank (IDB) and Inter-American Investment Corporation (IIC), Latin American governments, major private and public corporations and investments funds. He is a founding Board member of the Consejo Directivo del Centro para la Estabilidad Financiera (CEF) and also professor of International Finance at the Universidad de San Andrés. Previously, he was an Executive Director of MBA Banco de Inversiones, Managing Director of Darby Overseas Investments, Independent Director of Templeton Funds, Head Division of Banco Río de la Plata and was in charge of the Treasury and Planning Departments of Banco Tornquist, among others. He has given seminars on Emerging Markets and Corporate and International Finance in graduate programs at Yale University, Duke University's Fuqua School of Business and others. He also gave courses and participated in seminars at the Universidad Católica Argentina (UCA), ITBA and EDDE. He participated as a panelist and presenter in numerous panels of topics such as Global Imbalances, topics of the International Financial Architecture, Sovereign and Corporate Debt Workouts and Financing Alternatives. He also has a side interest in combinatorics, including hypergraph complexity measures.
Debt crisis is a situation in which a government loses the ability of paying back its governmental debt. When the expenditures of a government are more than its tax revenues for a prolonged period, the government may enter into a debt crisis. Various forms of governments finance their expenditures primarily by raising money through taxation. When tax revenues are insufficient, the government can make up the difference by issuing debt.
Hans Humes is an American investor and commentator on financial markets and sovereign debt restructurings. He is the president and chief investment officer at Greylock Capital Management, an alternative investment adviser. He served as co-chair of the Global Committee of Argentina Bondholders following the 1998–2002 Argentine great depression, and most recently served on the steering committee of investors engaged in the Greek sovereign debt restructuring.
Axel Kicillof is an Argentine economist and politician who has been Governor of Buenos Aires since 2019.
AJ Mediratta is an American investor who has worked in financial markets, particularly in fixed income emerging markets and in sovereign debt restructurings. He is a co-president at Greylock Capital Management, LLC, an alternative asset investment adviser. Mediratta is active in Greylock Capital's investment activity and debt restructuring efforts globally, with a focus on sovereign and quasi-sovereign restructuring activity in Latin America and the Caribbean.
Greylock Capital Management, LLC is a U.S. Securities and Exchange Commission registered alternative investment adviser that invests in undervalued, distressed, and high yield assets worldwide, particularly in emerging and frontier markets. As is the case with comparable funds, the firm's investor base consists largely of institutional investors and a limited number of high net worth individuals. As a group, institutional investors may include banks, credit unions, insurance companies, pension funds, hedge funds, REITs, endowments and mutual funds. As is common with many asset management firms, Greylock Capital is organized across a series of onshore and offshore limited partnerships.
Richard Andrew Deitz is an American investment manager. He is the founder and president of VR Capital Group.
