Brazilian financial services firm BTG Pactual has reportedly fired 10 out of 80 employees at its wealth management unit in Chile, Bloomberg reported.

"We did an adjustment in the wealth-management unit in order to fortify our regional composition and to update our structure for the integration with BSI," BTG told Bloomberg.

Go deeper with GlobalData

Premium Insights

The gold standard of business intelligence.

Find out more

In July2014, Italian insurer Generali agreed to sell its Swiss private banking unit, BSI, to Brazil-based Banco BTG Pactual for a total consideration of CHF1.5bn.

BTG employs 400 staff in Chile providing brokerage and asset-management services, merger advice and equity and debt underwriting.

In February 2012, BTG Pactual agreed to buy Chile-based Celfin Capital for about $600m to win more investment banking and capital market advisory business in South America.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.