BancBoston Securities Inc. last week said it formed an emerging markets mergers-and-acquisitions team.

The group is headed by Jeffrey Bistrong in Boston. It includes four professionals in Sao Paolo, Brazil, and is responsible for cross-border M&A advice to clients in Latin America and the United States.

Mr. Bistrong reports to Peter Lombard, managing director and head of M&A at BancBoston Securities.

The recent volatility of emerging markets may have created M&A opportunities there, said Mr. Lombard, but it was not a factor in establishing the group.

"We have been in Latin America for a long, long time," said Mr. Lombard. "We have seen the vicissitudes of the economies down there and the cycles, and we take a very long-term view."

BankBoston Corp. has had a continuous presence in Brazil since 1947, and in Argentina since 1917. It has nearly 750 corporate relationships in Brazil, said Mr. Lombard, primarily with middle-market companies.

Initially, the team will focus on opportunities in Brazil and will eventually expand to cover other countries, including Argentina and Chile, said Mr. Lombard.

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