An important component of globalization over the past two decades has been emerging economies’ rapid integration into the world economy. Consequently, multinational enterprises (MNEs) have faced substantial talent management challenges to attract and retain high-performing employees. We address here the question of how MNEs have tackled these challenges by focusing on Latin America as an example of a region undergoing rapid economic development during the mining industry boom. Based on a case study of one MNE, interview data were collected in Peru, Chile and Argentina at a time of substantial skill shortages in the region. By analyzing the organizational structure of the MNE and its translation of talent management strategies from corporate to subsidiary levels, we explain who the key actors are in the process of translation and identify five key talent management challenges that foreign-owned MNEs face when operating in Latin America.