The deal was announced in March
SÃO PAULO, Sept. 20, 2023 /PRNewswire/ -- BTG Pactual has just received all the regulatory approvals for the acquisition of FIS Privatbank, a private bank that operates for nearly 30 years in Luxembourg, one of the main banking jurisdictions in Europe. Its expertise comprises the activities of wealth management, asset management and financing activities. The main clients are high net worth individuals, family offices and institutional investors. In June 2023, FIS Privatbank had €400mn in assets under management (AuM).
Roberto Sallouti, CEO of BTG Pactual, states: "The closing of FIS Privatbank acquisition is a significant milestone in our history and a crucial step in BTG Pactual's strategy abroad, boosting our capability of offering products and services to our European client base and Latin Americans who are looking to diversify their investment portfolios in Europe, with the same quality and excellence that we offer in our home markets. This operation will foster the activities of our offices in Portugal and Spain and will enable us to attract new clients, develop new products, and continue improving our services, dedicated to always delivering the best results."
About BTG Pactual
BTG Pactual is the largest investment bank in Latin America and operates in the Investment Banking, Corporate Lending, Sales & Trading, Wealth Management and Asset Management markets. Since its creation in 1983, BTG Pactual has a meritocratic partnership culture, with a focus on its customers, excellence and a long-term vision. BTG Pactual currently employs more than 6.000 people in offices across Brazil, Chile, Argentina, Colombia, Peru, Mexico, United States, Portugal, Spain and Luxembourg. As of June 30th, BTG Pactual managed more than USD 290.0 billion of Assets for clients worldwide, with an Equity of USD 9.7 billion, Total Assets of USD 98.5 billion and market cap of USD25.0 billion.
About FIS
FIS Privatbank is a fully licensed private bank in Luxembourg. With a CET1 equity ratio of about 35% and LCR of more than 160% FIS Privatbank is providing its clients a safe and stable banking partner for wealth management, asset management and financing. Its subsidiary Inter-Portfolio offers tailor-made solutions for the management of UCITS investment funds.
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