The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site. Please see our Subscription Terms and Conditions.

All material subject to strictly enforced copyright laws. © 2022 Euromoney, a part of the Euromoney Institutional Investor PLC.

Private banking in Latin America: Brazil reverts to type

The private banking industry in Latin America had a difficult 12 months as wealth creation slowed throughout the region. The picture for the year ahead looks brighter for some countries, but Brazil remains the dominant market and its prospects are still murky.


The wealth management industry in Latin America is far from homogenous, but a rare common thread was apparent throughout all last year: 2014 was tough in the private banking industry. 

Wealth creation slowed around the region, even in Mexico, which is still considered the best bet to produce new high net-worth individuals and expand the portfolios of the already rich. This theme looks set to continue, too. 

“If you look at the wealth pool in Latin America in general, we will see a slower growth rate in the near future,” says Alex van Tienhoven, CEO of Citi Wealth and Investment Management in Latin America and Mexico. “We have been seeing close to double-digit wealth creation in recent years – in line with GDP – and now regional growth is expected to decelerate to 4% or 5%, so wealth creation will continue growing at a lower pace.”

Despite this commonality there will be differentiation within this slowdown, according to Felipe Godard, head of wealth management in Latin America at Deutsche Asset & Wealth Management. “Our view on LatAm is very positive, but not all countries represent the same opportunities.

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.


Unlimited access to and

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually


Unlimited access to and, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors


Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree