BTG Pactual Expands Global Reach with Miami Wealth Management Acquisition

BTG Pactual, Latin America’s largest independent investment bank, has acquired Greytown Advisors, a Miami-based multifamily office.

The purchase marks a significant step in BTG Pactual’s international expansion strategy. Greytown Advisors specializes in managing wealth for ultra-high-net-worth clients from Central America.

Rogério Pessoa, BTG Pactual’s partner and head of wealth management, revealed that the acquisition followed two years of negotiations.

The bank considered several potential targets before finalizing the deal with Greytown. Pessoa hinted at the possibility of similar acquisitions in the future.

Greytown Advisors brings approximately $1 billion in assets under management to BTG Pactual’s portfolio. This addition complements BTG’s existing operations, as the bank previously had limited presence in Central America.

The acquisition aligns with BTG’s goal of tapping into the concentrated wealth of the region. The deal also offers cultural synergy.

Marcello Correa, Greytown’s president, is Brazilian and has experience working at Banco Garantia, one of Brazil’s pioneering investment banks.

Correa will now become a partner at BTG Pactual, further strengthening the connection between the two firms. BTG Actual’s wealth management division will benefit from this acquisition.

BTG Pactual’s Global Expansion

The bank can now offer investment banking services and credit capabilities to Greytown’s clients and their businesses. Additionally, BTG will provide research and operational support to enhance Greytown’s offerings.

With regulatory approval secured, BTG Pactual’s multifamily office business now manages approximately $8.2 billion in assets.

The bank operates offices in Brazil, Chile, Europe, and the United States, solidifying its global presence. This acquisition follows BTG Pactual‘s recent purchase of M.Y. Safra Bank in New York and FIS Privatbank in Luxembourg.

The bank continues to expand its international footprint with offices in Madrid, Lisbon, London, and Riyadh. BTG also maintains brokerage and wealth management operations in various U.S. cities.

BTG Pactual’s wealth management and personal banking division has shown impressive growth. As of June 2024, it reported $144 billion in assets under management, representing a 27% increase from the previous year.

The Greytown acquisition demonstrates BTG Pactual’s commitment to expanding its global reach and diversifying its client base.

By targeting wealth management firms in key financial hubs, the bank aims to strengthen its position in the competitive international banking landscape.