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Andbank Brazil signs an agreement with the management company Triar that will allow it to double the volume of assets managed in the country

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Andbank Brazil signs an agreement with the management company Triar that will allow it to double the volume of assets managed in the country

This agreement, part of the bank’s expansion project in Brazil, will enable it to increase its assets under management from R$2 billion to R$5 billion. Triar is one of the largest independent management companies in the Brazilian market and has extensive experience, credibility and tradition in wealth management. Monday May 3, 2018. Andbank Brazil has […]

This agreement, part of the bank’s expansion project in Brazil, will enable it to increase its assets under management from R$2 billion to R$5 billion.

Triar is one of the largest independent management companies in the Brazilian market and has extensive experience, credibility and tradition in wealth management.

Monday May 3, 2018. Andbank Brazil has reached an agreement to manage the investments of clients at the independent asset management company Triar Gestão. With this agreement, the company, which already has around 80 employees, will double the volume of assets managed in Brazil, which will increase from R$2 billion to R$5 billion.

This agreement is directly related to the long-term market vision shared by both companies, which operate on an open and independent platform. In order to consolidate its expansion in the country, Andbank plans to conclude another operating agreement this year and two more in 2019. In addition, the growth plan includes acquisitions, mergers and entry into other markets (such as Rio de Janeiro, Porto Alegre, Recife, Belo Horizonte, Curitiba and the interior of the state of São Paulo) through the signing of new cooperation agreements with local independent brokers or family wealth management companies.

Carlos Moreno de Tejada, Andbank Managing Director in Latin America, explains that “our proposal throughout the bank’s almost 90 years of existence is to advise clients on the best investment alternatives available. We have managed to achieve a globalised structure on this basis, with a presence in Europe, North America, South America and the Middle East”.
He also mentioned that “Brazil is a strategic market for the bank, where we expect to maintain a good growth rate in the coming years”.

International growth at the Andbank Group

The Andbank Group’s international development, which began in 2000, has allowed it to grow and establish itself on three of the five continents. Andbank is currently promoting a strategic plan in Latin America, where it already has a presence in six countries and manages 5 billion euros, representing 22,6% of the bank’s global business. In addition to the growth plans for Brazil, the company doubled its assets under management in Miami in 2017 and plans to launch a branch in Argentina.
Another expanding international market is Israel, where its private banking activity began in 2015, and which currently manages 2.1 billion euros, representing 9% of the Andbank Group’s business.

About Andbank Brazil

Andbank Brazil operates exclusively in the private banking sector. In 2011, it acquired part of LLA DTVM, a Brazilian company founded in 1992 and a pioneer in the field of third-party product selection, consultancy and distribution, and which offers financial asset management services for high net worth clients. In 2017, it took full control of the bank and became Banco Andbank (Brazil) S.A. Its main executives in the country are Carlos Moreno de Tejada, Andbank Managing Director in Latin America, and Leonardo Hojaij, Private Banking superintendent.