BNP Paribas Brazil makes string of hirings to beef up wealth team

Rogerio Santos, who has passed through HSBC, Votorantim, BankBoston and Cititbank, was named BNP's commercial superintendent for wealth management. Five other hires were made to beef up the wealth management area.

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Brazilian fund industry raises BRL 12.3 billion in May amid new political scandals

Despite the political turmoil, the fund industry shows net inflows of BRL 106 billion year‐to‐date, more than double the amount seen in the same period of 2016, when it reached BRL 46.3 billion.

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One of Brazil’s last large, independent multi-family offices scooped up by UBS

Swiss banks including Julius Baer Group and Credit Suisse Group are already well-positioned in Brazil and are wagering on continued expansion of the private-banking industry.

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BTG and Itau innovate by opening onshore fund platforms to third parties

“Almost all funds in the market are now available on our digital platform,” BTG Pactual Digital's Marcelo Flora told Fund Pro Latin America. “For us, offering open architecture is a way to truly put the client first."

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Brazilian funds post first net redemption after seven months of gains

Despite the massive April redemption of BRL 21.6 billion, the industry still shows record net capital inflows for the first four months of 2017, of BRL 89.3 billion,

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Columbia Theadneedle’s incursion into Brazil wins it an innovation award

The asset manager won an Innovation Award at the 2017 British-Brazilian Awards, celebrating business success between Brazil and the UK as part of the government’s “Think Brazil” week. Columbia Threadneedle has a presence in Brazil through an exclusive distribution agreement with Rio Bravo Investimentos since 2015.

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Itaú digs claws into Brazilian “un-bank” XP Investimentos, buying 49.9% for USD 2 billion

The online broker has amassed 410,000 end clients via a network of 2,000 independent agents, and has tried to appeal to investors seeking an alternative to banks. XP has become an important channel for independent asset managers, who are unable to get onto the platforms of large banking entities.

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Local-product launches in Brazil will provide access to range of Legg Mason brands

Western Asset's Roberto Teperman, said the firm will launch a range of local funds in Brazil which will allocate to cross-border products of Legg Mason brands, including Western Asset, Brandywine, Clarion, ClearBridge, EnTrustPermal, Martin Currie, QS Investors, Rare Infrastructure, and Royce.

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Brazilian funds took in record amounts in first quarter of 2017

The industry's first-quarter net inflows reached BRL 109 billion (USD 35 billion), the highest ever in a first quarter. The positive flows pushed the fund industry’s net assets to BRL 3.7 trillion (USD 1.03 trillion).

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Bradesco targets Brazilian riches abroad

Banco Bradesco, Brazil’s second-largest bank by market value, said it will join rivals Banco Itau, BTG Pactual and XP Investimentos and open an office in Miami in July 2017.

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