Banco Votorantim S.A. S&P : Local currency = BB/B ; Foreign Currency BB/B ; National Scale = BrAA Incorporated in 1988 as a broker-dealer, Banco Votorantim became a full-fledged multiple bank in 1991. Initially established as the financial arm of Votorantim Group, the bank subsequently developed a strong client base that allowed it to become the fifth largest privately-held bank in Brazil, focused on fee-based and high aggregate value transactions for large corporations. Headquartered in São Paulo, the bank has branches in Rio de Janeiro, Porto Alegre, a full branch in Nassau–Bahamas, a Representative Office in London, and a broker-dealer in New York. Banco Votorantim is fully owned by the Ermírio de Moraes family, who controls Votorantim Group. This gives the bank the conservative management style and efficient decision-making process inherited from its ownership. The 89-year-old Votorantim Group is one of the largest and most influential privately owned Brazilian industrial conglomerates, with leading market shares in cement, pulp & paper, mining and metallurgy, agro-industry, finance, chemicals, energy and international trade. Along with its historically strong presence in the Treasury markets – notably hedges – Banco Votorantim has been strategically diversifying its sources of revenue by investing in annuity business segments with its local subsidiary Votorantim Asset and Consumer Finance through BV Financeira. In addition, Banco Votorantim is enlarging its client portfolio of top-tier Brazilian companies thanks to its brand-name recognition and superior access to the head offices of multinationals through its new Representative Office abroad.
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