Grupo BTG Pactual SA, Latin America's largest
independent investment-banking firm, won approval on Monday to
open a new broker dealer operation in Mexico.
Both Brazil's central bank, the nation's banking industry
watchdog, as well as the Mexican Securities and Exchange
Commission gave BTG Pactual the go-ahead for the project,
according to a securities filing. The São Paulo-based bank has
offices in Brazil, its home turf, as well as in the United
States, Colombia, Peru, Chile, the United Kingdom and China.
Javier Artigas, a former vice president at Mexico's Stock
Exchange, will head the unit, the filing added. According to the
statement, BTG Pactual's broker dealer shop in Mexico will start
offering financial and capital markets advisory first, and asset
and wealth management services in a later stage.