What is the background of BTG Pactual in general and specifically in Asia?
In 2005 UBS was given an IPO mandate by Banco Pactual, but upon closer inspection, UBS decided to acquire the bank rather than take it public. At the time Banco Pactual was Brazil’s leading domestic independent investment bank, but had only modest interaction with the rest of the world. This changed after the UBS transaction, which gave Pactual a far more convincing story with which to attract investment banking business in Brazil: international distribution through a truly global bank, and the business — now called UBS Pactual — boomed in 2006 and 2007 before the global financial crisis hit.
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