BTG Pactual, the largest investment bank in Latin America, has announced the successful completion of its acquisition of M.Y. Safra Bank, marking a major milestone in its long-term U.S. growth strategy. The transaction formally integrates full banking capabilities into BTG Pactual’s U.S. operations, where the firm has maintained a presence for more than 15 years.
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Following the acquisition, the institution has been renamed BTG Pactual Bank, N.A.. Based in New York, the bank will now offer a broad range of traditional banking services, significantly enhancing and complementing the investment and asset management solutions BTG Pactual already provides to clients in the United States.
Originally announced in June 2024, the transaction received all required regulatory approvals, including clearance from the U.S. Federal Reserve Board. At the time of the initial announcement, M.Y. Safra Bank reported net equity of US$46.2 million, underscoring a solid foundation for integration into BTG Pactual’s global platform.
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According to Roberto Sallouti, CEO of BTG Pactual, the closing of the acquisition represents a strategically important step in strengthening the firm’s U.S. footprint. He emphasized that the expanded structure enables BTG Pactual to deliver more integrated, personalized, and exclusive financial solutions to clients across Latin America, Europe, and the United States, while maintaining the firm’s long-standing standards of excellence.
Leadership continuity will play a key role in the transition. Kathleen Romagnano, who joins from M.Y. Safra Bank, has been appointed President and CEO of BTG Pactual Bank, N.A. She highlighted the shared values between the two organizations and noted that clients will benefit from a seamless transition and access to a wider range of products and services under the BTG Pactual umbrella.
BTG Pactual has operated in the U.S. since 2009 through its broker-dealer and asset management businesses, with offices in New York and Miami and a team of more than 280 professionals. The acquisition of M.Y. Safra Bank enhances this presence by enabling the firm to directly accept deposits and extend loans in the U.S. market, strengthening its end-to-end financial offering.
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Looking ahead, BTG Pactual Bank, N.A. will focus on serving international clients seeking efficient access to the U.S. financial system. By integrating traditional banking services with BTG Pactual’s broader investment and asset management platforms, the bank aims to deliver a more seamless client experience aligned with the institutional quality that defines its global relationships.
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