Tag Archives: wealth management

UBS rebuilds in Brazil with acquisition of Consenso

The acquisition by UBS of a majority stake in Consenso, Brazil’s largest multi-family office, is a significant step in the Swiss bank’s growth strategy in the country. Since 2010, UBS has been plotting its return in Brazil, following its sale … Continue reading

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Investment One seeks niche in busy Brazilian finance space

Bernardo Parnes, co-founder and CEO of financial boutique Investment One Partners, says there is “clearly space” in the Brazilian market for independent consultancies such as his, which opened its doors at the beginning of this year. Parnes, who was CEO … Continue reading

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Private banking: Brazil’s locals consolidate and fight for offshore

The hoped-for flows onshore from last year’s amnesty on offshore wealth have failed to materialise, so far. Meanwhile, Citi and HSBC have sold up. So where did a 15% increase in assets under management come from? Paulo Corchaki, head of … Continue reading

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BTG aims downmarket as technology reshapes Brazilian banking

Brazilian investment bank BTG Pactual has launched an internet-only bank that aims to win a 10% share of the R$650 billion ($190 billion) market for managing the money of the affluent retail sector in the country. The brand, BTG Pactual … Continue reading

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Latin America: Niche players thrive in wealth management

The large investment and private banks have withdrawn from many small Latin American markets and in their wake there has been a proliferation of niche wealth management boutiques focused on the region’s high net worth individuals. In Uruguay’s capital Montevideo, … Continue reading

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Itau: the real Bank of Brazil?

“In times of crisis investors around the world seek the safe refuge of government bonds, but in Brazil they rush to put their assets in Itaú.” It’s an old line from bankers at the country’s largest private financial institution, but … Continue reading

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Private banking survey 2013: Brazil’s wealthy say goodbye to risk-free investment

Joao Albino Winkelmann, the head of Bradesco Private Bank, frames the challenge presented to Brazil’s private banking market by the demise of high interest rates. “What we did before wasn’t consultative private banking,” he says. “It was so easy; we … Continue reading

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