2015 All-Latin America Research Team: Financials/Nonbanks, No. 1: Domingos Falavina & team
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2015 All-Latin America Research Team: Financials/Nonbanks, No. 1: Domingos Falavina & team

< The 2015 Latin America Research Team

Domingos Falavina & teamJ.P. MorganFirst-Place Appearances: 3

Total Appearances: 20

Team Debut: 1993J.P. Morgan leaps from third place all the way to the top, posting its strongest showing since 2003 and knocking Credit Suisse from the perch after three years. Its Latin America coverage is led by Domingos Falavina, who joined the firm in May 2012 after a stint in the same role at UBS. The 31-year-old analyst started his sell-side career at Itaú Securities and holds a bachelor’s degree in finance, international business and management from the University of Missouri – St. Louis. He and a colleague report on nine regional stocks, garnering particular investor praise for their responsiveness, research on Mexico’s institutions, stock-picking abilities and industry expertise. “We believe the sector should continue to do well, but most companies that we cover seem to be fully valued,” says Falavina. “Brazil’s poor macroeconomic environment has been driving investors to seek companies that are defensive from a macro deceleration and interest-rate sensitive in a positive way.” Brazil-based Cielo is Latin America’s largest credit and debit card processor — and the researchers’ top pick. Cielo offers a good inflation hedge, since it charges a percentage of card processed volume, they note, and has a cushion of growth thanks to the ongoing trend toward noncash payment instruments at the expense of cash and checks. They peg the stock at 50 reais; it closed in mid-July at 45.39 reais.

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