BTG Pactual acquires BSI from Generali
BTG Pactual is to acquire 100 per cent of BSI, the Swiss-based private banking group owned by Assicurazioni Generali, for CHF1.5 billion.
The transaction is subject to regulatory approval.
BSI will become BTG Pactual’s global wealth management platform and will continue to operate under the BSI brand and identity. BSI brings 140 years of private banking heritage, around USD100 billion in client assets, and a global presence with approximately 2,000 employees in more than 10 countries around the world.
The combination of BTG Pactual and BSI creates an international wealth and asset management business with more than USD200 billion in assets under management present in most major financial centres.
“The acquisition of BSI reflects our confidence in the strength and tradition of Switzerland as a global financial centre, the quality of BSI employees and clients, and the opportunity we see to build one of the world’s leading private banking franchises,” says André Esteves, chief executive of BTG Pactual.
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