You have to hand it to them, bankers the world over are nothing if not consistent. It’s just some countries have started arresting them, while others are so far still offering them plum spots, government influence and accolades… This too must pass. See: Brazilian Banking Star is arrested.
“André Esteves once joked that the initials in his investment bank, BTG Pactual SA, could stand for “Better Than Goldman.” His arrest has investors and clients wondering if its best days are behind it.
The 47-year-old Brazilian billionaire is the chief executive, controlling partner and driving force behind the Latin American country’s biggest independent investment bank.
Mr. Esteves rose from a working-class background in Rio de Janeiro to run BTG ’s precursor, Pactual, sold it to UBS Group AG for $2.6 billion and then bought it back and built it into a global player.
Now, he has been caught in a widening corruption probe with hard-to-predict consequences.”