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OPINION

BTG Pactual: if it’s fixed …

The bank has retrenched, rebranded and grown since 2015.

Andre Esteves-600

BTG Pactual has been reborn since the arrest of previous CEO André Esteves in 2015.

BTG Pactual’s recovery from a near-fatal bank run in 2015 has been spectacular: indeed, last month the bank won this magazine’s award for the best investment bank in the emerging markets. As an an entity that had always wowed, but had also sparked suspicion about its risk-taking instincts, it has a fresh veneer of respectability and solidity. And those are two very important brand attributes to have in the financial services.

The bank has retrenched and has grown. It has also rebranded into the retail and mass affluent sectors in Brazil, which have provided strong growth in annuities businesses.

This rebirth, since the arrest of previous CEO André Esteves in 2015 over allegations of participation in a corruption scheme, has been managed under the leadership of Roberto Sallouti. And while BTG Pactual, with its almost old-fashioned partnership culture and mentality, has always been driven by a senior management team rather than any individual, Sallouti has been the public face of the bank’s renewed reputation.