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Banco BTG () purchased 100% of the share capital of Julius Baer Brasil Gestão de Patrimônio e Consultoria de Valores Mobiliários Ltda., one of the leaders in the Wealth Management segment, with R$61 billion in assets under management, for the acquisition price of R$615 million.
According to the bank, the acquisition is part of the strategy to expand BTG Pactual’s Family Office segment, which has been operating since 2010 and, upon completion of the transaction, will manage more than R$100 billion.
The completion of the transaction is subject to the verification of certain precedent conditions, including obtaining approval from the Central Bank of Brazil and other necessary regulatory approvals.
