BTG looking for piece of Mexico's asset-management pie

Grupo BTG Pactual, the investment bank owned by Brazilian billionaire Andre Esteves, is hiring 20 people and starting an asset-management business in Mexico.

Bloomberg News reports that BTG already brought on two people for the new venture and plans to hire more, with other additions coming in investment banking, wealth management and credit analysis, Javier Artigas, who runs the Sao Paulo-based company’s Mexico unit, said in an interview last month at the bank’s Mexico City office.

Mexico’s asset-management industry expanded 13 percent last year to 1.84 trillion pesos ($123 billion), according to the brokerage trade association, AMIB. Latin America’s second-largest economy will probably grow 3.4 percent this year, or double the region’s pace, according to analysts’ estimates compiled by Bloomberg.

Hit the link below to access the complete Bloomberg News article:

BTG Plans to Hire 20 in Mexico, Start Asset-Management Business

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