In December 2015 Novo Banco (Portugal), the successor of Banco Espirito Santo (BES), completed the sale of its investment banking division to Haitong Securities (China), the division was renamed to Haitong Bank. Haitong Bank specializes in providing investment banking products and services.
Haitong Banco de Investimento do Brasil S.A. has Category B banking license number 573436 issued by the Cayman Islands Monetary Authority. This type of license allows Haitong Banco de Investimento do Brasil S.A. to conduct banking operations with non-residents and domestic banking business with other Cayman Islands licenced entities.
There is no deposit guarantee scheme in the Cayman Islands: in the case of Haitong Banco de Investimento do Brasil S.A. failure its depositors will not get any compensation.