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. © 2021 Euromoney, a part of the Euromoney Institutional Investor PLC.
Banking

Brazilian private banks: Fishers of rich men

Brazil’s private bankers are eagerly seeking out the means to differentiate themselves from rivals and attract the rich shoal of high-net-worth individuals a market boom has created.

AMID CHATS that conjure up images of a fishing trip rather than a buoyant market – we "hook the clients", we "fish in the whole Brazilian pond", we are "upstream of the liquidity vents" – there is apparently just one simple rule for successful private banking in Brazil: "Private banking is a relationship game – those that keep their client relationship strong will come out on top," says Marco Navarro, head of investment advisory and estate planning at Unibanco.

But in Brazil it is not sufficient merely to follow this one rule. As the private banking market grows at more than 30% a year, success is more about "hooking the new clients" (in the words of one banker) than about holding on to the old ones. "Once you have a doctor it takes something very major to make you move – it is the same for private banking," says Leopoldo Figueiredo, managing partner of Hedging-Griffo, the private banking group bought by Credit Suisse in 2007. "At the moment in Brazil banks are focused on capturing the growing wave of new clients."

IPOs open liquidity vents

New private bank clients are emerging in large numbers in Brazil after the IPO and capital markets bonanza of 2007.

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.

SUBSCRIBE ONLINE TODAY

Unlimited access to Euromoney.com and Asiamoney.com

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

FREE 7 DAY TRIAL

Unlimited access to Euromoney.com and Asiamoney.com, 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

LOGIN NOW

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