BCP Securities Research
Advisory Approach
BCP Securities is a global, independent investment bank founded in 1989 with a distinctive focus on emerging markets. The firm operates with a thesis centered on deep regional expertise, local relationships, and institutional-quality transactional execution in markets that many large global institutions underserve. Led by Chairman Randall Pike and CEO Felice Bagorda, BCP believes that superior outcomes in emerging market transactions come from understanding regional dynamics, maintaining strong local relationships, and providing integrated capital markets and advisory solutions. The firm's approach combines their legacy as a debt capital markets specialist with expanding investment banking capabilities, particularly under the leadership of Stephen Cunningham (Chief Operating Officer and Head of Investment Banking), who brings extensive experience from Morgan Stanley, Deutsche Bank, Bear Stearns, and Nomura.
Sector Focus
BCP Securities specializes in financing and advising corporations, financial institutions, and entities across Latin America, Eastern Europe, and other emerging markets. The firm has particular depth in:
Financial Services: Banks, financial institutions, and corporate finance in emerging markets. The firm has advised multiple financial services entities on debt restructurings and capital raises.
Energy & Utilities: Multinational energy companies and regional utility providers operating in emerging markets, particularly in Latin America. The firm has advisory relationships with large energy issuers.
Telecommunications: Telecom companies operating in emerging markets, including recent involvement with Telecom Argentina (one of the region's largest telecom operators) as a joint lead manager on a $500M capital raise (2024).
Real Estate & Infrastructure: Corporate real estate services firms and infrastructure-related entities in Latin America and Eastern Europe.
Diversified Latin American Corporates: Industrial, manufacturing, and business services companies based in Argentina, Brazil, Mexico, and Colombia with international growth ambitions.
Process & Investment Banking Capabilities
BCP's investment banking team provides integrated advisory including:
- Debt capital markets advisory (Eurobonds, ECP, structured notes)
- M&A and corporate advisory
- Debt restructuring and liability management
- Capital raises and refinancings
- Exchange offers and consent solicitations
The firm combines capital markets execution with strategic advisory, enabling clients to optimize both debt structure and growth initiatives. The team includes partners with 20+ years of experience in emerging market transactions.
Regional Expertise & Network
BCP maintains established relationships with institutional investors, private banks, family offices, and larger fund managers across:
- Latin America: Miami, Mexico City, Sao Paulo, Buenos Aires, Andean region (Colombia, Peru)
- Eastern Europe & CIS: Moscow, Kiev
- Europe: Madrid, Switzerland (Zurich)
- Asia: Singapore
The firm's investor base includes North American and European asset managers, central banks, and institutional investors with emerging markets mandates.
Competitive Positioning
BCP differentiates through:
- Unparalleled EM focus — Since 1989, exclusively focused on emerging markets (not a sideline for a global franchise)
- Local expertise — Partners are predominantly multilingual professionals with decades of on-the-ground experience across Latin America, Eastern Europe, and Asia
- Institutional-quality execution — Partnership structure ensures alignment with client success; not transaction-focused but relationship-focused
- Secondary market liquidity — Post-issuance trading support and research coverage, providing clients ongoing pricing and market access
- Integrated solutions — Combines capital raising with advisory and trading to provide holistic financial solutions
Team Depth
The firm is a partnership of 15+ managing partners with diverse regional expertise:
- Stephen Cunningham (COO, Head of Investment Banking) — 20+ years in emerging markets investment banking; prior head of LatAm IB at Morgan Stanley and Nomura
- James Harper (Head of Debt Capital Markets) — 20+ years; prior head of research; CFA charterholder
- Alvaro Cunto (M&A & Corporate Advisory) — Former MD at Nomura, M&A & LatAm investment banking
- Bulat Khalitov (Investment Banking) — Member of investment banking team; Wharton MBA; focuses on debt capital markets transactions
- Juan Carlos Luque-Suescun (Miami Partner) — Since 1998; manages Andean and Central America region
- Javier Gutiérrez Iriarte (Mexico Managing Director) — Leads global sales and institutional coverage
- Additional partners with deep expertise in Argentina, Brazil, Eastern Europe, and Asia
Regulatory Status & Infrastructure
- FINRA-regulated broker-dealer (CRD# 27063)
- SEC registered
- Member SIPC
- Registered in 6 U.S. states (CA, CT, DE, FL, NJ, NY)
- Established as Delaware corporation (2021)
- Main office: Greenwich, Connecticut
Not a Fit If
BCP is not appropriate for clients seeking:
- Non-emerging markets advisory (domestic U.S. lower-middle market exclusively)
- Transactional advisors without post-close market-making
- Firms requiring large-cap coverage teams
Geographic Coverage & Investment Focus
BCP actively covers Latin America (Mexico, Central America, Colombia, Andean region, Brazil, Argentina), Eastern Europe (Russia, CIS, Turkey), and Asia-Pacific (Singapore base for Asian EM coverage). The firm has completed dozens of debt capital markets transactions with aggregate values in the billions and maintains active relationships with 2,000+ institutional investors globally.