The board of Brazilian investment bank BTG Pactual has approved a buyback of up to 19.1 million units, it said in a filing on Monday. BTG Pactual 's board has approved a buyback plan of up to 19.1 m units ; this move follows the cancellation of 19.9 m units purchased under an existing buyback scheme . Earlier this week , the bank announced it was planning job cuts in London and some Latin American countries excluding Brazil and also plans to cut hedge fund bonuses by up to 80 % ; this comes after the bank cut 305 of its 1,653 workforce in Brazil and made cuts at its New York office on January 28th . Critics say this is due to a slump in assets under management , a problem that was deepened by the arrest of its CEO , chairman and founder , Andre Esteves last week .
BTG Pactual 's board has approved a buyback plan of up to 19.1 m units ; this move follows the cancellation of 19.9 m units purchased under an existing buyback scheme . Earlier this week , the bank announced it was planning job cuts in London and some Latin American countries excluding Brazil and also plans to cut hedge fund bonuses by up to 80 % ; this comes after the bank cut 305 of its 1,653 workforce in Brazil and made cuts at its New York office on January 28th . Critics say this is due to a slump in assets under management , a problem that was deepened by the arrest of its CEO , chairman and founder , Andre Esteves last week .