BTG Pactual is set to separate the investment banking and private equity arms of its operations, subject to shareholders' approval, according to a securities filing. The papers said the Brazilian company would be divided into Banco BTG Pactual and BTG Pactual Participations, while trading in Grupo BTG Pactual's units would be maintained. The move comes as Latin America's top independent investment bank aims to increase transparency, boost trading volumes and improve capital structure, following the decades arrest of former chief executive André Esteves in a corruption investigation.
BTG Pactual is set to separate the investment banking and private equity arms of its operations, subject to shareholders' approval, according to a securities filing. The papers said the Brazilian company would be divided into Banco BTG Pactual and BTG Pactual Participations, while trading in Grupo BTG Pactual's units would be maintained. The move comes as Latin America's top independent investment bank aims to increase transparency, boost trading volumes and improve capital structure, following the 2015 arrest of former chief executive André Esteves in a corruption investigation.