Brazilian financier Andre Esteves has resigned as chief executive and chairman of BTG PACTUAL after he was jailed as part of a corruption probe rapidly ensnaring Latin America's largest independent investment bank. The bank named two founding partners, Roberto Saloutti and Marcelo Kalim, the bank's COO and CFO respectively, as co-CEOs. Persio Arida, who was acting CEO, is now chairman, with Huw Jenkins, head of the bank's international arm, becoming vice-chairman.
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