The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site. Please see our Subscription Terms and Conditions.

All material subject to strictly enforced copyright laws. © 2022 Euromoney, a part of the Euromoney Institutional Investor PLC.

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.

That’s why a low-key filing on July 9 by Esteves, who holds 61.55%

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.


Unlimited access to and

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually


Unlimited access to and, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors


Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree