XP loses R $ 3 billion independent agent office to BTG

XP Markets Investments Brokers — Wise should join Banco BTG Pactual upon expiry of notice period (Image: LinkedIn / XP Investimentos)

Another billionaire office of self-employed agents is leaving XP (XP).

Wise Investimentos, which advises about R $ 3 billion, has ended the partnership with XP, according to a statement sent by Wise. According to the statement, the company, which is headquartered in Criciúma, Santa Catarina, has around 150 consultants and 40 offices across Brazil.

The wise must participate BTG Pactual Bank (BPAC11) When the XP notice period expires, according to people familiar with the matter, who requested anonymity because the information has yet to be released. Wise, XP and BTG not comment

This is the second office leaving XP for BTG this week. The bank controlled by André Esteves has entered into a partnership with Acqua-Vero Investimentos, according to a statement from the BTG. Acqua Vero has around R $ 8 billion in consulting.

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BTG has joined the Independent Agents as part of the bank’s strategy to grow in its high income retail business, under the BTG Digital brand, and to keep up with XP’s dominance in the sector.