Brazil's Grupo BTG Pactual in talks with Generali for BSI sale

SAO PAULO Wed May 14, 2014 5:21pm EDT

SAO PAULO May 14 (Reuters) - Grupo BTG Pactual SA, Latin America's largest independent investment bank, is in exclusive talks to buy wealth management firm BSI from Italian insurer Generali SpA, according to a statement by Generali.

Sao Paulo-based BTG Pactual, controlled by billionaire financier Andre Esteves, is seeking the purchase to add more fee-related activities to the fast-growing banking empire he has built since 2009, according to a source familiar with the Brazilian bank's plans. (Reporting by Guillermo Parra-Bernal and Lisa Jucca.)

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