BTG Pactual CEO resigns following Petrobras-linked arrest

BTG Pactual, one of Brazil’s largest investment banks, has appointed a new CEO after André Santos Esteves resigned from the position following his arrest last week.

André Santos Esteves, a self-made billionaire, was arrested last Wednesday, charged for obstructing an investigation into a corruption case involving Petrobras, Brazil’s state-run oil company.

The Board of Directors of BTG Pactual has appointed Persio Arida as its interim CEO. Arida is a founding partner of BTG.

In its statement announcing the new CEO, the bank said it was willing and available collaborate with the investigations of the Brazilian authorities.

As for Arida, he is a member of BTG Pactual´s Board of Directors. He was previously governor of the Brazilian Central Bank and president of BNDES (National Development Bank). He holds a PhD in Economics from MIT (Massachusetts Institute of Technology).

Offshore Energy Today Staff