# Bradesco Global Private Bank: Brazil's number two private bank

> Bradesco Global Private Bank: de-facto minimum ~R$ 10m (press-reported), ~R$ 450bn client assets, offshore booking in Miami and Luxembourg, FGC deposit cover R$ 250k.

Author: Adam Ihsan — Venture Partner (https://wiki.private.law/en/authors/adam)
Last modified: 2026-10-20T13:25:00.000Z
Canonical: https://wiki.private.law/en/bradesco-private
Publisher: wiki.private.law (https://wiki.private.law)
Version: 07b2872d57cd1601249fc1bf4f25f99fc963426ff4dd7efe199d0a4bfb076c79
Cite as: Bradesco Global Private Bank: Brazil's number two private bank. wiki.private.law. https://wiki.private.law/en/bradesco-private. Version 07b2872d57cd1601249fc1bf4f25f99fc963426ff4dd7efe199d0a4bfb076c79.
Topics: banking
Jurisdictions: brazil, usa, eu, global
Functional tags: private-banking
Product tags: bank, wealth-planning, investment, estate-planning, lombard-credit
Semantic tags: private-banking, bank, wealth-planning, investment, estate-planning, lombard-credit

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## Concept

Bradesco Global Private Bank is the private-banking arm of Banco Bradesco S.A., Brazil's second-largest private-sector bank. The "Bradesco Global Private Bank" brand has been in use since around 2024; the unit sits inside the wealth-management vertical created in February 2024 as part of CEO Marcelo Noronha's restructuring. The vertical is headed by Vice-President Guilherme Muller Leal (since February 2024); the executive officer overseeing Global Private Bank is José Augusto "Guto" Ramalho Miranda, who led the Private restructuring in 2019–2022.

Client assets in private banking are reported at roughly R$ 450 billion (February 2024, via an executive interview — an unofficial figure). The last official figure is R$ 380 billion and the number-two position in Brazil with a ~22% share (August 2022, SEC Form 6-K); no newer official Private-only AUM has been disclosed. In 2021 the bank posted a record R$ 50 billion of net new money, according to published reports. Asset manager BRAM oversees R$ 905 billion (June 2025).

## History and evolution

- **1982** — first international outposts: New York and Grand Cayman.
- **2008** — acquisition of brokerage Ágora Corretora.
- **2016** — US$ 5.2 billion acquisition of HSBC Bank Brasil added a large high-net-worth client base.
- **2019** — acquisition of BAC Florida Bank (~US$ 500 million), renamed Bradesco Bank.
- **2019–2022** — Private Bank restructuring.
- **2020** — absorption of J.P. Morgan's Brazil private-banking portfolio (~R$ 20 billion).
- **2022** — absorption of BNP Paribas Brazil's wealth/private book (up to R$ 15 billion).
- **2022–2023** — creation of Tivio Capital (Bradesco 51%).
- **February 2024** — wealth VP vertical created.
- **October 2024** — launch of the Bradesco Principal segment.
- **2025** — Banco Bradesco Argentina ceased operations.
- **April 2026** — Bradesco bought BV's 49% of Tivio Capital, taking ownership to 100%.
> 🍓 Deposit protection. Brazil: the FGC covers up to R$ 250,000 per CPF/CNPJ per institution or conglomerate, with a global cap of R$ 1 million per four-year period; investment funds and offshore-booked assets are not covered. Miami (Bradesco Bank): FDIC insurance up to US$ 250,000 per depositor (around 45% of its deposits are insured). New York Branch deposits are NOT FDIC-insured. Luxembourg-booked deposits fall under the FGDL up to €100,000.

## Regulation

The main entity, Banco Bradesco S.A., is under prudential supervision of the Central Bank of Brazil (BCB) and the securities regulator CVM; asset management runs through BRAM. Overseas entities are supervised locally: the OCC and the Federal Reserve (US), the CSSF (Luxembourg), CIMA (Cayman Islands) and the FCA (UK).

Compliance context. In June 2020 the BCB entered into a termo de compromisso with the bank, with a R$ 92.2 million fine over FX operations and AML/CFT procedures (an independent audit was required; no confession of wrongdoing). In September 2018 CADE fined the bank R$ 2.2 million (card-acquiring case). In November 2020 CADE imposed a R$ 23.8 million fine for anticompetitive conduct against the fintech Guiabolso. There is no recent sanction specific to the Private Bank unit.

## Source of wealth

Client wealth stems from industrial and agribusiness fortunes, business owners, executives and multi-generational families. A meaningful share of the client base comes from books absorbed from exiting foreign banks: HSBC, J.P. Morgan and BNP Paribas. For documentation expectations, see [source of funds](https://wiki.private.law/source-of-funds).

> 💡 Entry thresholds. The bank publishes no official numeric minimum. Reported de-facto practice (2024–2026 press) places the start of the Private segment at around R$ 10 million invested; the "R$ 1–3 million" figures circulating online are stale.

## Who it serves

The reported segment ladder: Varejo → Exclusive → Prime (from ~R$ 150k) → Bradesco Principal (launched October 2024; income above R$ 25k/month or ~R$ 300k invested) → Private Bank. The core audience is owners and heirs of large businesses, families with multi-holding structures and clients with international assets.

## Services

- Advisory and investments: open architecture, managed portfolios via BRAM.
- Wealth planning: succession and estate structuring, philanthropy.
- Dedicated banker plus a multi-specialist team (banker + investment advisor + wealth planner + credit specialist).
- Credit structuring: [lombard lending](https://wiki.private.law/lombard-lending), real-estate credit and liquidity solutions.
- International platform with specialist teams in Luxembourg, New York and Miami — see [booking centres](https://wiki.private.law/booking-centres).
- "Private Educacional" family-governance programme.
- Alternatives shelf via Tivio Capital (100% owned since April 2026, ~R$ 32 billion AUM in alternatives, credit and real estate).
## Entities

| Jurisdiction | Legal entity | Form and supervision | Role |
| --- | --- | --- | --- |
| Brazil | Banco Bradesco S.A. / BRAM | Bank; BCB and CVM supervision | Main booking centre and asset management |
| USA | Bradesco Bank (Miami) | Florida-chartered bank, FDIC-insured | Offshore banking for LatAm clients; assets ~US$ 5.1 billion (March 2025); the only Brazilian bank with a full US bank licence |
| USA | Banco Bradesco S.A. New York Branch | Branch; OCC / Federal Reserve | Wholesale operations; deposits NOT FDIC-insured |
| USA | Bradesco Securities Inc. | Broker-dealer; SEC / FINRA | US capital-markets access |
| Luxembourg | Banco Bradesco Europa S.A. | Bank; CSSF supervision; CEO Alexandre Gartner (since September 2025) | Corporate and trade finance plus private banking for LatAm HNW |
| Cayman Islands | Banco Bradesco S.A. Grand Cayman | Branch; CIMA supervision | Booking and treasury hub |
| UK / Hong Kong | Bradesco Securities UK Ltd / Bradesco Securities Hong Kong Ltd | Brokers; FCA (UK) | Capital-markets support, not private banking |

## Strengths

- Brazil's number-two private bank with a ~22% share and roughly R$ 450 billion in client assets.
- The only Brazilian bank with a full FDIC-insured US bank.
- Full offshore platform: Miami, New York, Luxembourg and Cayman.
- Institutional investment platform: BRAM (R$ 905 billion AUM) plus Tivio alternatives.
- Decades of experience integrating books of exiting foreign banks.
## Where it falls short

- No published official minimum; the de-facto ~R$ 10 million threshold cuts off the lower HNW segment.
- The FGC does not cover investment funds or offshore assets; New York Branch deposits are not FDIC-insured.
- Presence beyond Latin America is capital-markets support only; Argentine operations were wound down in 2025.
- No fresh official disclosure of Private-segment AUM — estimates rely on press reports.
Bottom line: Bradesco Global Private Bank is the institutional choice for Brazilian and Latin American wealthy families who want the scale of a local leader together with full access to the US and Europe without moving to a foreign bank.

## Q/A

### What is the minimum entry threshold?

No official minimum is published. Reported de-facto practice (2024–2026 press) starts the Private segment at around R$ 10 million invested; circulating figures of R$ 1–3 million are stale.

### How are deposits protected?

In Brazil the FGC covers up to R$ 250,000 per CPF/CNPJ per conglomerate (cap of R$ 1 million over four years). In Miami the FDIC covers up to US$ 250,000 per depositor; in Luxembourg the FGDL covers up to €100,000. New York Branch deposits are not FDIC-insured.

### Are there offshore booking centres?

Yes: Miami (Bradesco Bank, FDIC-insured), New York (wholesale branch), Luxembourg (Banco Bradesco Europa) and Grand Cayman (booking and treasury hub).

### Who leads the business?

The wealth-management vertical is headed by Vice-President Guilherme Muller Leal (since February 2024); Global Private Bank is overseen by executive officer José Augusto "Guto" Ramalho Miranda.

### Has the bank faced regulatory sanctions?

BCB (2020) — termo de compromisso with a R$ 92.2 million fine over FX/AML-CFT procedures, with no confession of wrongdoing; CADE — R$ 2.2 million (2018) and R$ 23.8 million (2020, Guiabolso case). No sanction is specific to the Private Bank unit.

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