BTG Pactual Shares Tumble 20% Following CEO Arrest

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Mani
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BTG Pactual

BTG Pactual, one of Latin America’s biggest investment banks, plunged over 20% after Andre Esteves, the CEO and controlling shareholder, was arrested in the corruption probe that has shaken Brazil’s political and economic leadership. According to an official for the federal Supreme Court, which authorized the action, Esteves is under temporary arrest for a maximum of five days. Esteves credited for transforming BTG Pactual Andrew Esteves has been credited with transforming Grupo BTG Pactual into the largest independent investment bank in Latin America. In 2006, Esteves sold what was then Banco Pactual to UBS Group AG for $2.6 billion. In…

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Mani is a Senior Financial Consultant. He has worked in Senior Management role in large banking, financial and information technology organizations. He has provided solutions for major banking and securities firms across the globe in the area of retail, corporate and investment banking. He holds MBA (Finance) and Professional Management Accounting Qualifications. His hobbies are tracking global financial developments and watching sports