The Latin American firm reported record revenues in its third-quarter results statement and highlighted significant growth in wealth under management.

Brazil-headquartered BTG Pactual, which recently acquired Switzerland-headquartered BSI, boosted its revenues by 50 per cent year-on-year to a record R$2.56 billion ($675 million) in the third quarter, thanks largely to the strong performance of its wealth management arm.

Most notably, wealth under management rocketed 360 per cent to R$422.5 billion during the period, which the firm attributed to the consolidation of BSI and the strong performance of its Latin American platform. BTG Pactual completed its SFr1.25 billion acquisition of BSI in September.

Net income jumped 96 per cent from the same period a year ago to R$1.51 billion. Meanwhile, assets under management and administration were up 7 per cent from the previous quarter, at R$230.5 billion.

“We are pleased to announce record revenues and net income in a period in which we significantly reduced our balance sheet risk. We also successfully concluded the acquisition of BSI, a move that we expect to be a major catalyst for our global growth in asset and wealth management,” said BTG Pactual's chief executive, André Esteves.

BTG Pactual's return on average equity stood at 28.8 per cent at the end of September.