Goldman Sachs Group plans to increase the base of corporate clients it covers in Brazil by 50%, over the course of 2013, in response to the "demand" the lender has been facing for corporate loans, structured finance and advisory services.
To step up client coverage, Goldman Sachs may hire 50 or more bankers to work in credit and wealth management in Brazil.
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The bank is likely to keep growing in Colombia, where it has "risen from zero to hundreds of millions in revenue" over the past two years, with a representative office there. Other targets for expansion in Latin America include Chile and Peru.
Goldman Sachs is projecting it would provide services to around 300 additional companies aside from the 100 currently in their portfolio.
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