BTG Pactual, in its 30-year history, has become the leading Investment Bank in Latin America.
Our history began in 1983, when Pactual was founded in Rio de Janeiro as a brokerage.
Since its inception, Pactual has been run as a partnership, via an association established between its founding partners. In the ensuing 13 years, the company has grown considerably, becoming a fully-fledged bank with several offices throughout Brazil.
In May 2006, UBS AG purchased Pactual, creating "UBS Pactual", the division of UBS in Latin American countries. André Esteves became CEO of all of UBS' Latin American operations.
In July 2008, André Esteves and a group of partners left UBS Pactual to create a new company based on the same culture they had previously implemented at Banco Pactual. They were joined by Persio Arida and some former managing directors of UBS, and in October 2008 they created BTG, a global investment company with offices in São Paulo, Rio de Janeiro, London, New York and Hong Kong.
On April 19 2009, BTG acquired UBS Pactual. The transaction was finalized in September 2009, resulting in the creation of BTG Pactual. With the acquisition, the partners who left the Bank in 2008 were reunited with the partners who decided to stay on at the institution throughout the period following the bank’s sale to UBS.
In December 2010, we issued US$1.8bn in capital to a consortium of renowned international investors and partners, representing 18.65% of BTG Pactual. The consortium provided us with a relevant group of investors, consolidating and expanding our global network.
In 2011, we purchased a 37.64% stake in Banco PanAmericano, comprising 51.00% of its voting shares and 21.97% of its non-voting shares.
In 2012, we acquired Celfin, the leading brokerage in Chile, which also operates in Peru and Colombia, and Bolsa y Renta, the largest brokerage (in equity volumes) in Colombia. Celfin has a broad range of products and services in the areas of Investment Banking, Products and Financial Services, Asset Management and Wealth Management.
We also held our IPO in 2012, raising R$3.65bn and making us one of the 20 largest listed companies on the BM&FBovespa. This operation gives us more liquidity and reinforces our solid, fast-growing business platform.
In 2013, Banco BTG Pactual, via its subsidiary BTG Pactual Timberland Investments Group LLC, acquired timberland management contracts from Regions Timberland Group ("RTG"), a division of Regions Bank. This acquisition, which expands the Bank’s timberland investment platform, makes BTG Pactual the largest independent timberland manager in Latin America and one of the largest worldwide, with committed and invested assets of around US$3bn and a portfolio of over 716,000 hectares, spread across the US, Latin America, Europe and South Africa.