Esteves removed from control of BTG Pactual by seven top partners

miércoles 2 de diciembre de 2015 08:07 GYT

SAO PAULO Dec 2 (Reuters) - André Esteves was removed from control of Grupo BTG Pactual SA on Wednesday, after agreeing to a share swap with the other seven founding partners of the embattled Brazilian investment bank.

In a securities filing, BTG Pactual said a group named as the top seven partners - Marcelo Kalim, Roberto Balls Sallouti, Persio Arida, Antonio Carlos Canto Porto Filho, James Marcos de Oliveira, Renato Monteiro dos Santos and Guilherme Paes - agreed to take control of the bank from Esteves through a share swap. Terms of the deal were not disclosed.

The move, which results in a change of control at São Paulo-based BTG Pactual, requires approval from the Brazilian central bank. Esteves had about 29 percent of BTG Pactual. (Reporting by Guillermo Parra-Bernal; Editing by Lisa Von Ahn; Additional reporting by Brad Haynes and Priscila Jordão)