BTG Plans Mexico Expansion Focused on Trading, Asset Management
- Bank plans to add 8 people to 45-person office for trading
- Mexican asset-management unit may also begin later this year
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Grupo BTG Pactual, the Brazilian bank that was forced to sell assets and cut payroll after the arrest of its founder last year, is renewing a push to expand in Mexico.
The Mexico City office, now with about 45 people, plans to hire eight more employees within eight to 10 months to focus on fixed-income and currency trading, the unit’s chairman, Guillermo Ortiz, said in an interview. The Sao Paulo-based bank also expects to add staff as soon as the second half of this year for an asset-management operation.