November 6, 2018 / 3:32 PM / 8 months ago

UPDATE 1-Brazil's BTG Pactual expects growth of wealth management unit - CFO

(Adds details on wealth management and background)

SAO PAULO, Nov 6 (Reuters) - Latin America's largest independent investment bank, Brazil's Banco BTG Pactual SA , expects its wealth management division to speed up growth in coming quarters, Chief Financial Officer João Dantas told analysts on Tuesday.

Dantas said the bank should draw more clients as its new digital platform known as BTG Pactual Digital has just launched an online broker and started working with independent brokers.

BTG's move into a digital investment platform for individuals follows the growth of financial services firms in Brazil amid the country's gradual economic recovery.

In August, Brazil's biggest private lender Itaú Unibanco Holding SA closed the acquisition of a 49.9 percent stake in XP Investimentos SA for $1.6 billion.

In a securities filing, BTG said wealth management assets reached 115.5 billion reais ($30.85 billion) in the third quarter, up 7.7 percent. Net inflow into this division totaled 4.8 billion reais.

Dantas told analysts the digital platform also makes the bank more efficient by reducing the cost of luring new clients.

BTG posted on Monday a third-quarter recurring net income, excluding one-time items, of 685 million reais, down 9.75 percent from a year earlier, as trading gains fell.

$1 = 3.7445 reais Reporting by Carolina Mandl Editing by Chizu Nomiyama and David Gregorio

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