Andre Esteves
REAL TIME NET WORTH — as of 5/5/17
$1.61 B
Andre Esteves is the controlling shareholder of Brazilian investment bank and asset manager BTG Pactual. Accused of obstruction of justice in connection with Lava Jato (“Operation Car Wash”), Brazil’s largest corruption scandal, Esteves was thrown in jail for almost three weeks in 2015 before being placed in house arrest in December that year. He was released from house arrest in April of 2016 and a day later named a senior partner at bank BTG Pactual, where he is a controlling shareholder. He’d been chairman and CEO prior to his arrest. He denied the charges and the case is pending. Esteves began his career working as an intern in the IT department of investment bank Pactual. He worked his way up as an ace trader while Brazil was experiencing hyperinflation. He eventually acquired control of the bank and sold it to UBS in 2006, forming the Brazilian subsidiary UBS Pactual. In 2009 he engineered the sale of UBS Pactual to investment firm BTG. In July 2014 the bank agreed to buy Assicurarioni Generali SpA (G)’s Swiss private-banking unit BSI Group for $1.7 billion, as part of Esteves’ plans to expand internationally due to the stagnation of the Brazilian economy.
Source:forbes