In a statement released on Wednesday, BiG said DIF Broker’s acquisition will allow the bank to strengthen its capabilities in the brokerage area
Banco de Investimento Global (BiG) has acquired the financial brokerage company DIF Broker, an entity dedicated to financial intermediation in Spain, Portugal and Poland, with more than €290 million of assets under supervision.
In a statement released on Wednesday, BiG said DIF Broker’s acquisition will allow the bank to strengthen its capabilities in the brokerage area. This operation is part of BiG’s growth strategy in the Iberian market, following the launch of its wealth management service in Spain last November.
The European business, which already has over two decades of activity, is now fully owned by BiG with the main goal of “strengthening its Iberian positioning as a specialised bank, supporting Portuguese and Spanish savers and investors in achieving their financial objectives,” reads the statement.
“With this operation, BiG strengthens its investment and financial intermediation solutions, accelerating its growth in the Iberian market and scaling up its Wealth Management services,” said the bank’s CEO, Mario Bolota, quoted in the statement.
The brokerage’s CEO, Pedro Lino, said that the entity he leads had been incorporated, “into a solid banking group specialised in savings and investment solutions,” which would allow DIF Broker to “leverage its skills in the brokerage area and provide its clients with a wider range of financial products and services.”
Banco de Investimento Global was created over 22 years ago and has €5.2 billion in assets under supervision, that is, client assets under custody, management and deposits.