Brazilian investment bank banco Btg Pactual has agreed to take 100% stake in the Fis Privatbank, a private bank in Luxembourg. Photo: Shutterstock

Brazilian investment bank banco Btg Pactual has agreed to take 100% stake in the Fis Privatbank, a private bank in Luxembourg. Photo: Shutterstock

Subject to regulatory approval, Banco Btg Pactual, a Latin American investment bank, has reached an agreement to acquire Fis Privatbank, a Luxembourg-based financial institution specialising in wealth management, asset management and other financial activities.

Fis Privatbank specialises in serving private and institutional investors with customised management and individual services, with a primary focus on financial and capital markets in Europe and the US. The company’s expertise is particularly notable in smaller and medium-sized funds, where they implement cost-effective strategies.

“The acquisition of Fis is a milestone for Btg Pactual’s strategy in Europe and a strategic investment decision,” said Roberto Sallouti, CEO of Btg Pactual in a . “Operating a bank in Luxembourg will enable us to serve all our clients’ needs in the region, fostering the activities of our European offices in Portugal, Spain (which is currently under regulatory approval), and the UK. We will offer a full suite of products and services to our European client base and to Latin Americans aiming to diversify their investment portfolios in developed countries.” 

The financial details of the transaction have not been disclosed, however Sallouti also said that “being in Luxembourg will be a key element to bolster those activities, attract new clients and serve them with the same dedication that we do in our home markets.” 

Fis Privatbank is fully owned by Alexander Schütz’s Schütz Family Office. In a statement, the founder and CEO of C-Quadrat, a company registered in Vienna, said: “Btg Pactual is the perfect fit for Fis Privatbank as it is fully aligned to our ambition. We are convinced that our clients will be in the position to improve their banking relationship with Fis Privatbank due to a broader offering of global products and services from an experienced global player like Btg Pactual.” 

Speaking to Delano, Fis Privatbank CEO Markus Schachner said: “Btg Pactual is the perfect partner for Fis Privatbank. Our customers will benefit from the know-how and expertise of a globally operating, fast-growing and stable bank, keeping however the contacts in day-to-day business and the usual processes. The bank’s current location in Luxembourg will be further expanded and our range of products and services will continue to improve.”

As of the end of 2021, Fis Privatbank’s asset under management amounted to €660m.

Updated 28 March 2023 at 9:15am with comments from Fis Privatbank.