UPDATE 1-BTG Pactual plans to open Miami wealth management branch

April 10, 2015 9:19 PM

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SAO PAULO, April 10 (Reuters) - Grupo BTG Pactual SA , Brazil's No. 1 independent asset manager, plans to open a wealth management branch in Miami between September and October, a source with direct knowledge of the plans said on Friday.

The move comes as BTG Pactual seeks to expand its wealth management franchise throughout the Americas, said the source, who declined to be identified since the plan is in the works. BTG Pactual oversaw 81 billion reais ($26 billion) for wealthy clients at the end of last year.

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