February 15, 2019 / 9:59 AM / 3 months ago

Brazil's BTG Pactual names former finance minister as partner

SAO PAULO, Feb 15 (Reuters) - Brazilian investment banking Banco BTG Pactual SA said on Friday former Finance Minister Eduardo Guardia would become chief executive and partner at its asset management unit.

Guardia, who starts on July 1, will replace Steve Jacobs, who will become chairman and will be in charge of BTG Pactual’s asset outside Brazil.

The BTG Pactual unit manages assets worth 184 billion reais ($49.4 billion).

Guardia served as a finance minister in 2018, after being the ministry executive-secretary since 2016.

This is BTG Pactual’s second move this week to strengthen its asset management unit. BTG announced on Monday it was hiring Will Landers, a veteran BlackRock Inc portfolio manage, to be its new head of equity funds.

BTG Pactual has been building up its management after a Brazilian federal judge acquitted its founder Andre Esteves of corruption charges in July.

$1 = 3.7232 reais Reporting by Carolina Mandl Editing by Edmund Blair

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