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Latin America’s best private bank for high-net-worth individuals 2023: BTG Pactual

The judges have acknowledged BTG Pactual’s hard-earned reputation as one of the leading banks for high net-worth individuals in Brazil – and increasingly beyond.

The bank remains the reference point for a new wave of pretenders seeking to win market share in this much-prized part of private banking.

While the Brazilian bank’s investment management business is now growing beyond HNWIs, it was formed to service this segment. Long before BTG broadened out to retail clients by leveraging its digital investments, the bank was focused on delivering differentiated services to HNWIs.

Rogerio Pessoa

This wasn’t always easy: Brazil’s private-banking market was long characterized by high interest rates that made sovereign fixed income investments the natural product for HNWIs. However, BTG focused on providing clients with investment diversification options that have tracked – if not exceeded – the CDI-driven benchmark that has dominated the Brazilian private-banking industry.

Clients that listened to BTG’s diversification mantra did well: not only in terms of competing with the annual returns delivered in the domestic market, but longer-term in gaining non-Brazilian exposure during a decade when one of the dominant features was a structural depreciation of the real.