BTG Pactual, an investment bank, completed the acquisition of FIS Privatbank, a private bank. Financial terms were not disclosed. "The acquisition of FIS is a milestone for BTG Pactual's strategy in Europe and a strategic investment decision. Operating a bank in Luxembourg will enable us to serve all our clients' needs in the region, fostering the activities of our European offices in Portugal, Spain (which is currently under regulatory approval), and the UK. We will offer a full suite of products and services to our European client base and to Latin Americans aiming to diversify their investment portfolios in developed countries. Being in Luxembourg will be a key element to bolster those activities, attract new clients and serve them with the same dedication that we do in our home markets," Roberto Sallouti, BTG Pactual CEO.