As UBS AG’s losses from subprime- mortgage bets swelled in early 2008, Andre Esteves, already a billionaire as he neared 40, approached his 150-year-old employer with a deal.
Back to the game.
Not even Andre Esteves, the Brazilian billionaire who orchestrated a sixfold increase in the value of a discarded UBS AG investment-banking unit, can save Eike Batista’s crumbling empire, according to bond traders.
Andre Esteves , the Brazilian billionaire who owns Banco BTG Pactual SA, postponed plans to take his investment bank public until next year after selling a stake for $1.8 billion in December.
Brazilian lenders that didn’t underwrite a single overseas bond sale from the country five years ago won a third of all mandates in 2012. Now they’re staking a claim to the rest of Latin America.