In recent years, the private banking industry in Latin America has been undergoing rapid transformation, with lower real interest rates and digitalization fragmenting traditional brands. And senior bankers forming their own boutiques.
However, BTG Pactual is navigating this challenging landscape with apparent ease, led by Roberto Sallouti. Not only is the bank’s own leading private-banking brand experiencing organic growth in assets under management, but its digital investment platform is taking advantage of the new wave of independents.
The result is a daunting proposition for competitors. Wealth under Management at the firm rose to R$666 billion ($134 billion) in the third quarter of 2023 thanks to R$31.3 billion of net new money – and R$132.4 billion over the past 12 months.
In dollar terms, the bank’s AuM grew a full 40% over the third quarter of 2022 – an impressive result given the large base – to $135.8