trending Market Intelligence /marketintelligence/en/news-insights/trending/jEF8ntJGizQ-z5VvJif6vw2 content esgSubNav
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us
In This List

Banco Fator looking to further shrink brokerage ops, release capital

Blog

Banking Essentials Newsletter - February Edition, Part 2

Podcasts

StreetTalk – Episode 74: Investor sees legs in strong credit performance, US bank stock rally

Blog

Street Talk – Episode 74: Investor sees legs in strong credit performance, US bank stock rally

Blog

The Evolution of ESG Factors in Credit Risk Assessment: Environmental Issues


Banco Fator looking to further shrink brokerage ops, release capital

Banco Fator SA'sbrokerage arm Fator SA Corretora deValores will stophandling clients' stocks and derivatives orders in the wake of a in Brazil's capital markets,Reuters reported April 11.

The head of Fator's brokerage operations, Rodolfo Froes, reportedlysaid that through the move the company is seeking to release capital that it canallocate to its public and corporate fixed income operations.

The plan, which requires BM&FBOVESPASA's approval, could help free up to 40 million Brazilian reais, thepublication noted.

Meanwhile, the bank is reportedly negotiating with two or threebrokers to pass on its client orders in asset management to them.

Earlier in January, Banco Fator announced plans to reduce thescope of activity of its brokerage arm to cut costs "in the light of challengesfaced by the Brazilian economy." The bank stopped operating in equity researchmarket and closed its brokerage office in Rio de Janeiro.

As of April 8, US$1 wasequivalent to 3.63 Brazilian reais.