Julius Baer Brazil CEO Likely to Stay at BTG After Acquisition

Fernando Vallada, Julius Baer Group Ltd.’s chief executive officer for Brazil, is expected to stay at Banco BTG Pactual SA after the Brazilian bank acquires the business from the Swiss wealth manager, according to a person familiar with the matter.

Vallada will probably lead BTG’s multifamily office business, the person said, asking not to be identified because the discussions are private.

Julius Baer said Tuesday it will sell its domestic Brazilian business to BTG, the biggest independent investment bank in Latin America, for 615 million reais ($101 million). The transaction is expected to be completed this quarter, the Zurich-based ...