Brazil’s political and economic crises are creating one bright spot for finance bankers and lawyers looking for work: Firms including Rothschild and G5 Evercore are hiring to help ailing companies restructure their debt.
Boutique advisory firm G5, in which Evercore Partners Inc. has a 47 percent stake, hired Ricardo Moura and Marcio Santiago Goncalves, former heads of mergers and acquisitions at Bank of America Corp. in Brazil and Patria Investimentos SA, respectively. G5, which has about 75 employees, is also adding two associates as well as analysts and other junior employees, two people with direct knowledge of the hires said. Rothschild is also hiring, a person said, without giving specifics.
Restructuring firms are increasing staff as the contraction in Latin America’s biggest economy intensifies. Revenue is falling for many companies, while paying back debt becomes harder given the highest benchmark interest rates since 2006 and a currency that’s tumbled 40 percent in the past year. The bribery scandal roiling Petroleo Brasileiro SA has also created a credit squeeze for its suppliers. Firms dependent on commodities are suffering with that market’s collapse.
Brazil Energy Insight 
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