Private Asset Management

Brazil's Local Players Siphon HNW Assets 04/03/2009

Nate Suppiah Ultra-high-net-worth investors in Brazil have been moving their assets out of large international private banks to multi-family offices or local Brazilian banks. According to a recent Capricorn Research Group report on the country, local private banks such as Unibanco, Banco do Brasil and Bradesco have seen their assets grow by as much as 40% in recent months because of client concerns about the financial stability of international banks outside of Brazil.

"The movement from offshore to onshore is also due to government regulations becoming more flexible ...

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