BTG Pactual redemptions rise in day after CEO arrest, source says

November 26, 2015 10:43 PM

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SAO PAULO Nov 26 Clients have withdrawn funds equivalent to about 3.5 percent of assets under management at Grupo BTG Pactual SA over the past two days, a source with knowledge of the bank's strategy on Thursday.

Redemptions from BTG Pactual's asset management unit were around 1 percent of assets on Wednesday, when André Esteves, the chief executive and controlling shareholder of BTG Pactual, was arrested on suspicion of obstructing a sweeping corruption investigation. BTG Pactual oversees 230 billion reais ...

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