Banks Considering Local Wealth Management Business in Argentina
UBS, Julius Baer, Grupo BTG Pactual are among the banks considering a local wealth management business in Argentina. There are estimates that the government’s tax amnesty program could bring back as much as $16 billion back to the country.
“There are estimates that the government’s tax amnesty program could bring back as much as $16 billion back to the country. “
The government’s tax-amnesty program, announced in May, attracted $4.6 billion in cash through last week. Under the tax amnesty program, Argentines who come clean on their untaxed savings by March 31 will pay a one-time fine of as much as 15 percent. They can also invest in three-year and six-year Treasury bonds or make long-term investments in businesses or closed-end mutual funds.
About Grupo BTG Pactual
BTG Pactual Group’s seven business units are:
- Investment Banking. Financial advisory and capital markets services;
- Corporate Lending. Financing, structured credit and loan guarantees to corporations;
- Sales and Trading. Financial products and services to a diverse group of clients in local and international markets, including market-making, brokerage and clearing services, and derivatives, interest rate, foreign exchange, equities, energy and commodities transactions for hedging and trading purposes;
- Asset Management. Management services with a broad range of products across major Brazilian and international asset classes to Brazilian and international clients;
- Wealth Management. Investment advisory and financial planning services and investment products to high net worth individuals, or HNWI;
- Banco Pan. Commercial and consumer banking business conducted through Banco Pan, an independent Brazilian bank that BTG Pactual Group co-controls since mid- 2011. It focuses on anting automobile loans, direct consumer loans and payroll deduction lograns, primarily to low- and middle-income individuals, in addition to middle market loans and mortgages to corporations in Brazil; and
- Principal Investments. Capital investments with respect to a broad range of financial instruments, including merchant banking and real estate investments in Brazil and investing in a variety of financial instruments in global markets, which investments are primarily managed by BTG Pactual Group’s asset management unit.
Visit: BTG Pactual
The Wealth Insider is the world’s leading wealth intelligence for global wealth managers, investments managers, asset managers, high net-worth service providers and wealthy individuals. Our global workforce seamlessly present the inside news of the most relevant news, insights, global wealth trends, innovation & digital transformation to our global audience.
Get The Wealth Insider Daily
- For Press Release, please contact email@example.com
- For Media-related enquiries, please contact firstname.lastname@example.org
- For Advertisement, please contact our official ad agency