The Company will have autonomy in the management of resources, with a highly specialized team, focused on and aligned with achieving the best results for clients, in addition to relying on the reputation and solid experience of its shareholders
U.S. Securities and Exchange Commission headquarters in Washington, D.C., near Union Station. (Credit: AgnosticPreachersKid/Wikipedia)
Banco Bradesco S.A. (“Bradesco”) would like to inform its shareholders and the market in general that it has signed a strategic partnership with Banco Votorantim S.A. (“banco BV”) to form an independent wealth management, which will have its own brand, to be defined.
In the transaction, Bradesco, through one of its indirect subsidiary, will acquire 51% of the capital of BV DTVM (“Company”), which concentrates the management of third-party funds and private banking operations of banco BV. The Company has BRL 41 billion in assets under management and R$22 billion under custody in private banking.
The Company will have autonomy in the management of resources, with a highly specialized team, focused on and aligned with achieving the best results for clients, in addition to relying on the reputation and solid experience of its shareholders.
Operating in the Brazilian market since 1999, the Company is the 9th largest real estate fund manager, in June/2022 ranking by ANBIMA, the Brazilian Association of Financial and Capital Market Entities. In private banking, it offers customized financial and asset solutions for high-income clients and ranks 9th among the largest in the country.
Bradesco Organization has a broad and solid local asset management platform with over BRL 544 billion under management and private banking with over BRL 380 billion under management, being the 3rd and 2nd largest player in each segment, respectively.
The conclusion of the transaction is subject to compliance with legal and regulatory conditions.
Source: Company Press Release