BTG Pactual, a Brazilian investment bank, completed the acquisition of Elite Investimentos, a Brazilian brokerage house. Financial terms were not disclosed. “The operational synergy is enormous. The acquisition will make it possible to combine the expertise of Elite's employees and advisors with the structure of BTG's products, services and technology, allowing it to gain even more scale, with cost dilution, efficiency gains, synergy and productivity," Marcelo Flora, BTG Pactual Partner.