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Amid a Price Bloodbath, BTG Commodities Trading Unit Thrives

  • Raw material push makes bank one of Brazil's top exporters
  • BTG's commodity shipments already surpassed $1 billion in 2015
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As trading houses like Glencore Plc and Noble Group Ltd. try to navigate the aftermath of a commodities price bust, a new competitor is emerging from Brazil: Grupo BTG Pactual.

In less than two years, the investment bank led by Andre Esteves has become one of the country’s largest exporters, trading raw materials including soybeans and corn. The billionaire is starting to make good on a promise to turn his firm into a commodity powerhouse as other banks left the business amid tougher regulations. In the first nine months of the year, BTG exported more than $1 billion in Brazilian raw materials, up from nothing when Esteves made the pledge during an interview in Davos in early 2014.