BTG Pactual has mandated Goldman Sachs and JPMorgan to help manage its initial public offering as it tries to build one of the biggest independent emerging market investment banks.

The IPO, which is expected to value the Brazilian bank at $13bn to $14bn, follows its merger with Celfín Capital of Chile, which cemented its position as Latin America’s biggest homegrown securities group.

BTG will also manage the IPO, and is expected to file its prospectus with regulators as early as this week, according to people familiar with the matter.

BTG, Goldman and JPMorgan declined to comment.

Led by billionaire André Esteves, BTG is one of the flagships of Brazil’s burgeoning financial sector, whose large institutions are expanding into other Latin American countries, Asia and the US.

Itaú-Unibanco, the biggest private sector bank, has a strong presence in the region outside Brazil, while Banco do Brasil, its state-run peer, has made acquisitions in Argentina and the US.

BTG has expanded rapidly since it was bought out of UBS, the Swiss bank, in 2009 for $2.45bn.

The following year, a group of investors including three sovereign wealth funds – Singapore’s GIC, China Investment Corp and the Abu Dhabi Investment Authority – bought an 18.7 per cent stake that valued the group at $10bn.

The IPO filing, which Bloomberg reported would be to list 10 per cent of the company, would be followed by pricing in the next two months, probably in April, said one person familiar with the matter.

BTG’s merger with Celfín was valued at $600m. Mr Esteves and his partners paid $245m cash and gave Celfín shareholders a 2.4 per cent stake in the Brazilian bank.

The combined group has $69bn in assets under management, BTG has said, and 1,900 employees, with a strong presence also in Peru and Colombia.

Mr Esteves, who has a fortune estimated by Forbes last year at $3bn, is also building links with Asia through an alliance with Citic Securities in Hong Kong and the presence of Beijing’s CIC among its shareholders.

Mr Esteves has said the aim is to allow BTG clients to transact directly with their peers in Asia and other regions without having to use financial intermediaries in London or New York.

The announcement of the listing follows a stop-start beginning to the year for Brazil’s equity capital markets, which have been badly affected by the eurozone crisis.

Brazil Travel, was forced to pull its offering after a lack of demand, while Seabras, the local unit of Sea­Drill, the international oil drilling company, delayed its issue for technical reasons.

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