Andre Esteves Success Story
Andre Esteves is a Brazil based mathematician and businessman, who is currently serving as the CEO of BTG Pactual. He came into news mainly for his Italian insider trading controversy, for which he had to pay a fine of €350,000. Born in a middle class Brazilian family, he was educated in mathematics, and entered the banking sector to become a huge success in life. Esteves is one of the top 15 billionaires in Brazil.
Early Life and Career
Andre completed his graduation in computer science from Federal University of Rio de Janeiro. After that, he joined Pactual as an intern, and became a member of its foreign debt trading department within 1 year. Within a couple of years, he started managing its M&A deals and IPOs. This was the time when Brazil was going through a condition of hyperinflation. In 1992, he gained partnership of the bank for posting 59% return on capital. He sold the bank to UBS in the year 2006, and formed UBS Pactual, a Brazilian subsidiary. In 2008, he and 30 other UBS employees left the bank, and created BTG together. In 2009, he and his partners bought the Pactual back from UBS for $2.5 billion.
Andre is now the controlling shareholder of BTG Pactual, which holds $200 billion assets under its management. In 2014, with an aim to expand on an international level, Esteves bought the Swiss private banking unit BSI Group of Assicurarioni Generali SpA for $1.7 billion. Andre also provides public support to Joaquim Levy, the former banker and new finance minister of Brazil. According to Latin Finance, Esteves is a great supporter of education and some environmental charities too, and also the board member of the Conservation International. He has also made donations to the Harvard Business School for renovation of their Baker Hall. The hall is reported to be renamed as Esteves Hall in Andre’s honor. Many international students use this Harvard dormitory, especially those who hail from Brazil, the home country of Andre Esteves.
Despite skyrocketing wealth and being a successful person, Andre Esteves has driven the same Mercedes pickup for 4 years, and takes a vacation of only 2 weeks every year. He also owns a private jet, Dassault Falcon, worth US $ 50 million. During his leisure, he likes watching movies, drinking wine and eating good food. He arrives at office early in the morning, and holds his business meetings into late nights. Regular study meetings are held with the directors of BTG Pactual at his own residence. With such amazing commitment and dedication towards his work, Andre Esteves has rightly become one of the most honored billionaires in Brazil.
Personality of the Year