FinTech Magazine - February 2022 | Page 19

Brazilian businessman André Esteves is legendary for his aggressive investment approach , big personality , and sharp , business acumen . But he ’ s also courted a lot of controversy throughout his 30-year career .

With an estimated personal fortune of more than $ 7bn USD , André is one of the most prominent figures in global financier circles .
But the Brazilian native who hails from Rio De Janeiro is all the more impressive in his achievements because he didn ’ t come from wealth .
Instead , his formative years were unremarkable even though this larger-thanlife businessman , who was named one of Epoca magazine ’ s 100 Most Influential Brazilians list for four consecutive years , was raised in a middle-class family of white-collar workers .
Born in 1968 , reports from André ’ s childhood suggest he was a bright and curious child and an excellent student . However , his was not an idyllic childhood . André ’ s parents divorced when he was young . He was raised mainly by his mother , a university professor specialising in educational psychology at the State University of Rio de Janeiro . His grandmother played a leading role too because she minded him frequently as his mother worked long hours .
Possibly influenced by his mother ’ s high-ranking role in education , André worked hard at his studies and obtained a Bachelor ' s degree in computer science from the Federal University of Rio de Janeiro . Soon after graduating , he took an entry-level role at the financial company , Pactual .
Rising through the ranks From the very start , André ’ s keen interest and intelligent decisions in financial investment saw him rise stratospherically within Pactual . Within 12 months , he had moved up to the bank ’ s foreign debt trading team . By his third year , he was promoted to managing Pactual ’ s IPOs and M & A – a remarkable indicator of his ability – and the company ’ s trust in him .
The management team ’ s faith in André was well-founded , and he scored win after win for Pactual – helping the bank to post an incredible 52 % return on its capital in 1992 – an achievement for which they made him a partner .
André Esteves bought Pactual Following six incredibly successful years as a partner , André had generated enough revenue and income to actually buy Pactual . He ran the business himself for just two years , before releasing his interest in the venture , which was then sold to UBS , while he explored further business opportunities .
During his break from Pactual , André explored several alternative business options . In 2008 , he launched the BTG investment company . He then decided to buy back his former stake in Pactual and managed to raise an impressive US $ 2.5bn to re-acquire the bank back from UBS .
This canny move resulted in André reaching his industry-leading position as the founder of a global investment company – and the co-owner of Pactual Bank , and BTG Pactual was formed .
Today , André is one of the most prominent financial figures in Latin America , and indeed the world . However , it hasn ' t all been plain sailing , as his aggressive and
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