The news that Andre Esteves has left UBS, where he was chief executive of Latin America, to set up his own investment fund did not come as a shock. Esteves is an entrepreneur who had become a billionaire before his 40th birthday. He and a handful of others built a successful boutique, Banco Pactual, which they then sold for a fortune to the Swiss bank. And although at one point he was even seen as a potential head of UBS, he is leaving after only 18 months.
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