Esteves looks for his next fortune

The Brazilian billionaire built Banco Pactual into one of Latin America’s foremost investment banks before selling it to UBS in 2006. After an inglorious and turbulent two-year stint at the Swiss firm, he is returning to his entrepreneurial roots by setting up a new asset management company. He talks to Chloe Hayward about his plans.

Focus: The big banking exclusives in Euromoney

UBS timeline
2006
December 1 UBS buys Banco Pactual for $2.6 billion. Esteves becomes the youngest billionaire in Brazil. Esteves named as new chairman and chief executive of UBS in Latin America
2007
May 3 UBS closes its in-house hedge fund, Dillon Read Capital Management, just five months after it opened. The fund lost $124 million from trades in the US sub-prime lending market in the first quarter of 2007
July 6 Peter Wuffli resigns as CEO of UBS investment bank.

Access intelligence that drives action

To unlock this research, enter your email to log in or enquire about access