Biggest Brazil Fund Manager Seeks Partners for $380 Billion Goal [BNN Bloomberg (Canada)]
BANCO DO BRASIL SA S/ADR (BDORY)
NASDAQ:AMEX Investor Relations:
bb.com.br/pbb/pagina-inicial/investor-relations
Company Research
Source: BNN Bloomberg
The growth strategy is something of a reversal for BB Asset Management, a unit of government-controlled Banco do Brasil SA. Former Brazil President Jair Bolsonaro put BB Asset up for sale, but didn't finish the process before Luiz Inacio Lula da Silva took his job last year and scotched the idea. “There is no plan to sell BB Asset, on the contrary: We want to strengthen our pillars through strategic partnerships with fund-management firms with the best skills and leaders in their segments,” BB Asset Chief Executive Officer Denisio Liberato said in an interview in Sao Paulo. With 1.6 trillion reais under management in more than 1,200 investment vehicles, BB Asset is expanding — including through joint ventures — in a strategy designed by its CEO, the first Black man to lead the firm. It has clients throughout Brazil, including individuals, companies and municipalities, and has been trying to speed up its expansion and highlight more alternative funds since Liberato took over last
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