Andre Esteves was bornon 1967 in Sao paulo, Brazil, Brazil. Andre Esteves is #1006 in List Billionaires People In The World. 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.
The company’s $1 billion of notes due 2020 rose 3
On the 27th of April, 2016, hours after Brazil’s Supreme Court freed him from house arrest, a smiling Andre Esteves addressed employees in an auditorium at Grupo BTG Pactual’s headquarters to deliver an important message: he’s back
On December 17, 2015, Esteves won his release from jail, three weeks after being arrested
Development bank BNDES, which previously agreed to extend financing, withheld funds after former Sete Brasil COO Pedro Barusco testified in late 2014 that he accepted bribes in exchange for awarding contracts as part of a wider corruption probe known as Lava Jato (Carwash in Portuguese)
In 2013, Charles Rosier, a partner of BTG Pactual, was convicted in the largest insider trading case in the history of France
It is recognized as one of the leading investment banks in emerging markets, the largest independent investment bank and the largest asset manager in BrazilIn April 2012, André Esteves was fined €350,000 for insider trading in Italy and officials "also froze €4
" Reuters reported that the "Consob said it notified Esteves of its accusations in November 2010
Esteves later repurchased Pactual back in 2009 for 2
While at UBS, at the end of March and early April 2008, he and his cousin Joseph Raad used inside information to purchase shares and options in Geodis just before the announcement of a takeover bid
Huw Jenkins was ejected from UBS in 2007 and disappeared from view, to then resurface as a senior partner and Board member at BTG Pactual in 2010
Arthur Rutishauser in Sonntagszeitung argued that the way Esteves acquired 27% of his bank is an example of an insider case: Esteves sold the bank in 2006 for 3
Bloomberg reported that "In three separate cases since 1999, Brazil’s central bank and securities commission alleged Pactual had illegally transferred profits to foreign funds to disguise gains and avoid taxes
" In 1992, Esteves made a partner for helping the bank "to post a 59 percent return on capital"
André Santos Esteves (born 1967/68) is a Brazilian billionaire businessman