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BTG Pactual seeks 10 pct of Brazil digital money management market

SAO PAULO Nov 29 Grupo BTG Pactual SA wants to grab up to 10 percent of Brazil's market for wealthier retail investments over the next five years, underscoring the growing relevance of digital banking solutions in Latin America's No. 1 economy.

The money management startup known as BTG Pactual Digital will first offer the bank's wealth management products to clients of the platform, and later include those of competitors, Chief Executive Officer Roberto Sallouti said at an event. The market has about 650 billion reais ($191 billion) in assets under management in Brazil, Sallouti said. ($1 = 3.4038 reais) (Reporting by Guillermo Parra-Bernal)

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