Esteves Departs UBS to Start Fund

Esteves Departs UBS to Start Fund

People Corporate & Sovereign Strategy

Andre Esteves is leaving UBS following a brief stint running global fixed income to start a new global investment fund worth up to $3bn. The former CEO and chairman of UBS LatAm – who was recently demoted from a global role after the Swiss bank scaled back its risk profile – is taking 12 former Pactual executives with him, following months of speculation of a split. UBS bought Pactual in 2006 amid great fanfare, but its Brazilian staff swiftly became disenchanted with the move as the global bank

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