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Banks Considering Local Wealth Management Business in Argentina

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. “

~ Bloomberg

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.

Related Reports: Bloomberg, Wealth-X


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


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