BTG Pactual to acquire domestic Brazilian business of Julius Baer for BRL615m.

BTG Pactual, a Brazilian financial company, agreed to acquire domestic Brazilian business of Julius Baer, a private banking services provider, for BRL615m. “Following a thorough review of our domestic business in Brazil over the past 12 months, it was concluded that for the benefit of our clients it is important to preserve the multi-family office approach, while further enhancing investment capabilities and upgrading technology. The acquisition of our domestic Brazilian franchise by BTG, a leading domestic financial institution, makes this possible and allows to deliver a compelling and differentiated value proposition for our clients and employees,” Carlos Recoder, Julius Baer Head of Americas & Iberia.