Central Bank of Argentina has approved the sale of a 50% interest in Grupo MBA to Lazard, a financial advisory and asset management firm.
Grupo MBA, the parent company of MBA Banco de Inversiones, is an investment banking firm with offices across Central and South America.
The new entity, to be branded as MBA Lazard, will offer investment banking advisory services in the Latin American region. With its existing Brazilian joint venture, Signatura Lazard, and its investment in MBA, Lazard will now have coverage in all major financial markets in Central and South America. MBA Lazard will be led by founder, chairman and CEO of MBA, Alejandro Reynal as CEO and chairman of the board of directors.
Mr Reynal said: We are pursuing this transaction to enhance the resources and capabilities we bring to our clients.
Charles Ward, president of Lazard, added: This transaction reinforces Lazard’s strategy to expand financial advisory business, and our commitment to provide premium service to clients across geographies and industries. MBA Lazard will bring us a strong growth platform in the region that will benefit our clients and our firm.
Central Bank of Argentina has approved the sale of a 50% interest in Grupo MBA to Lazard, a financial advisory and asset management firm.