BTG Pactual has acquired FIS Privatbank (FIS), a private bank in Luxembourg, for €21.3 million. According to the Brazilian firm, the acquisition aims to complete the product offering to BTG Pactual customers, as well as expand its international presence. Among its activities, FIS has expertise in wealth and asset management with €500m under management and more than 300 clients, mostly high net worth individuals, family offices and institutional investors. “The acquisition is part of a strategic business decision and is another important milestone for our presence in Europe,” said Roberto Salotti, CEO of BTG Pactual, in a statement released on the 24th. Our clients are in Latin America and Europe.” He also said that FIS will be an arm of the activities of the Brazilian Foundation’s already existing offices in Portugal, Spain and the UK. BTG Pactual will offer its range of products and services to the FIS client base, for those looking to diversify their investment portfolio. The deal is subject to the approval of the regulatory bodies in Europe.
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