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 Cookiesbefore 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.

Roberto Sallouti: Follow-on transaction part of BTG re-pricing story

$2.5 billion deal makes bank more profitable and a purer ‘Latam’ play; CEO says still huge upside on valuations, and revenue growth to come.


The R$2.5 billion follow-on transaction that BTG Pactual completed Tuesday 11 June was the most visible milestone in an extraordinary year for the bank.

The bank’s share price has risen from R$18 one year ago to close at R$47 at the end of the trading session in which the deal was executed. Unusually, the bank’s share price rose by 15% on the news of the secondary share offering.

Speaking to Euromoney from New York, where he had led one of the four teams that comprised the deal’s roadshow, Roberto Sallouti, CEO of BTG Pactual, said the deal (led by the investment banking unit of BTG Pactual, Morgan Stanley, Banco Bradesco, UBS and Banco do Brasil) had fulfilled a number of his strategic objectives.

Roberto Sallouti,
BTG Pactual

“We were explaining that we were going to use the resources to transfer the bank’s partial ownership of [Swiss private bank] EFG [International] to the holding company,” he says. It was also an opportunity to “update investors on our traditional franchise and present our plans for our new digital retail unit”.

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