M.Y. Safra Bank in Sale to Banco BTG Pactual SA.

Cleary Gottlieb is representing M.Y. Safra Bank, FSB (M.Y. Safra) in connection with the proposed sale of M.Y. Safra to an affiliate of BTG Pactual.

The transaction signed on June 27, 2024, and is subject to customary closing conditions. The financial terms of the transaction were not publicly disclosed.

M.Y. Safra Bank, FSB is a Federal Savings Bank regulated by the Office of the Comptroller of the Currency (OCC) in the United States. The bank is insured by the Federal Deposit Insurance Corporation (FDIC) and an Equal Housing/Equal Opportunity Lender. M.Y. Safra is privately owned and headquartered in New York City, where it focuses on providing innovative products and solutions to personal, business and private banking clients, as well as lending in the commercial and residential real estate markets. Clients include high net worth individuals, family offices and businesses. At the end of March 2024, M.Y. Safra had a loan portfolio of $275 million, $404 million in total assets and net equity of $46 million.

BTG Pactual is the largest investment bank in Latin America and operates in the Investment Banking, Corporate Lending and Business Banking, Sales and Trading, Wealth Management and Personal Banking, and Asset Management markets. BTG Pactual is already present in the United States, where it provides asset management and broker dealer services to individual and institutional clients.

For more information, please see the press release here.