BTG Pactual Finalizes Strategic Acquisition of M.Y. Safra Bank to Enhance U.S. Operations

BTG Pactual Completes Acquisition of M.Y. Safra Bank

BTG Pactual, recognized as Latin America's largest investment bank, has officially concluded its acquisition of M.Y. Safra Bank, marking a pivotal move in its strategy to expand operations in the United States. The integration strengthens BTG Pactual’s banking capabilities, enhancing its product and service offerings for U.S. clients, which have been active since 2009.

The transaction, which was first announced in June 2024, comes after receiving the necessary regulatory approvals from key bodies, including the U.S. Federal Reserve Board. As a result of this acquisition, M.Y. Safra Bank has been rebranded as BTG Pactual Bank, N.A. and will operate out of New York. The bank will provide a comprehensive suite of banking services, complementing the existing investment products available to U.S. clients.

Roberto Sallouti, CEO of BTG Pactual, emphasized the strategic significance of this acquisition, stating, "This acquisition represents a crucial strategic move for our expansion in the United States. We are strengthening our capability to deliver integrated, exclusive, and personalized solutions for clients across Latin America, Europe, and the U.S. while maintaining the BTG Pactual standard of excellence."

Kathleen Romagnano, who transitions from M.Y. Safra Bank to lead BTG Pactual Bank as President and CEO, also highlighted the commitment to excellence and personalized service. “Our shared commitment to excellence, innovation, and personalized service will ensure a seamless transition for clients,” she noted. “We will provide access to an even broader suite of products and services.”

Since its entrance into the U.S. market, BTG Pactual has developed a strong presence through its broker-dealer and asset management firms. The addition of M.Y. Safra Bank is anticipated to enhance this presence by allowing the bank to accept deposits and extend loans directly within the American financial landscape.

The strategic integration aims to cater to clients seeking efficient access to American financial markets, particularly those connected to the diverse jurisdictions where BTG Pactual operates. The new structure promises to streamline the client journey and maintain the high standards that have come to characterize the bank's global operations.

BTG Pactual has established itself not only in investment banking but also in corporate lending, asset management, and wealth management. Its innovative approach and complete transactional banking services are designed to support clients throughout their financial journeys. Additionally, the bank is a pioneer in promoting environmental, social, and governance (ESG) practices via its financial products that contribute to a greener and more sustainable economy.

With over 8,000 employees spread across several countries including Brazil, Chile, Argentina, Colombia, Peru, Mexico, the United States, Portugal, the United Kingdom, and Luxembourg, BTG Pactual is poised for continued growth and reaffirmation of its status as an innovative leader in the investment banking sector.

In conclusion, the acquisition of M.Y. Safra Bank represents a significant chapter in BTG Pactual's story, enabling them to offer a more extensive array of financial solutions in the U.S. and strengthening their position as a critical player in the international financial market.