Andre Esteves Net Worth $4 Billion
Andre Esteves is a Brazilian banker with the estimated net worth of $4 billion as of March 2013 according to Forbes. He’s the 14th wealthiest person in Brazil and 329th in the world. Born in Rio de Janeiro in 1969, he studied mathematics in the Federal University of Rio de Janeiro. Esteves began bringing in his estimated net worth of $4 billion in 1989, while still studying. Esteves joined the investment bank Pactual when he was hired by banker, Luis Cesar Fernandes, as an intern in the IT Department. In spite of the hyperinflation experienced in Brazil, he worked his way up as an ace trader. Esteves was promoted in 1990 to the operator’s fixed income desk bench area which turned into an important source of bank profits in 1995. Esteves became one of the five partners of the bank. Esteves assumed the command of the business in 1999 following the selling of shares of Fernandes who was indebted in other business. Andre Esteves became a billionaire in 2006 after he sold Pactual to Swiss bank UBS for $3.1 billion which formed the Brazilian subsidiary company UBS Pactual. Andre was named the president in the Latin America area. In 2007, he was promoted to the head of international fixed income division. Fernandes left the firm in 2008 and founded BTG, an investment and asset management company. UBS Pactual was sold to BTG in 2009. Fernandes became the chief executive officer and controlling stockholder of BTG Pactual, a multinational investment bank, which has more than $60 billion in assets under management. It employs more than 1,500 professionals with offices in Brazil, Chile, Peru, Colombia, United States, United Kingdom and China.