Management and Board of Directors

Board of Directors

The board of directors of Banco BTG Pactual is responsible for, among other things, electing and removing the executive officers and supervising the other members of Banco BTG Pactual’s management team.

The table below shows the name and position of each member elected to the board of directors of Banco BTG Pactual as well as a summary of members‘ businesses experience and other biographical information:

Name Office Election Date
André Santos Esteves President April 30, 2024*

André Santos Esteves is bachelor’s degree in Mathematics from the Federal University of Rio de Janeiro (UFRJ), with a specialization in Computing. He joined Banco Pactual in 1989 at the age of 21. Working together with his partners and employees over the past three decades, he has played a crucial role in transforming BTG Pactual into a group with global reach, which is still the leading investment bank in Latin America, currently employing more than 5,000 people. Furthermore, Mr. André Esteves was a member of the Board of Directors of B3 – Brazilian Stock Exchange, and FEBRABAN – Brazilian Federation of Banks. He currently performs activities in other areas, such as education and socio-environmental, as a founding partner of Inteli. He was also a member of the Latin American Council of the Harvard Business School and the Board of Directors of Fundação Estudar, an entity aimed at fostering undergraduate and graduate studies for young Brazilians in Brazil and abroad, helping these professionals to enter the job market.

Eduardo Henrique de Mello Motta Loyo Independent Director April 30, 2024*

Eduardo Henrique de Mello Motta Loyo is a partner and member of the Board of Directors of BTG Pactual. Prior to joining the company as the chief economist in 2007, he was the International Monetary Fund’s executive officer, in Washington, D.C., elected by Brazil and other 8 countries from the Western Hemisphere. From 2003 to 2005, he was an officer at the Central Bank of Brazil and a member of the Bank’s Monetary Policy Committee (Copom). He was a professor in the Department of Economics of the Pontifical Catholic University of Rio de Janeiro (PUC-Rio) and of the John F. Kennedy School of Government at Harvard University; a visiting professor at Graduate School of Business – Columbia University; and at INSEAD. Additionally, he served as an officer for the Institute for Economic Policy Studies – Casa das Garças in Rio de Janeiro, and for the Center for Public Policy Debate (CDPP), in São Paulo. He has a bachelor’s and a master’s degree in Economics from PUC-Rio and a Ph.D. in Economics from Princeton University.

Guillermo Ortiz Martínez Director April 30, 2024*

Guillermo Ortiz Martínez holds a bachelor’s degree in Economics from Universidad Nacional Autónoma de México and a Master’s degree and a PhD in Economics from the Stanford University. He is currently a Board member of Weatherford International (a large oil and equipment company based in Geneva) and several Mexican companies (including Mexichem, ASUR, the Chedraui Commercial Group and VITRO). He has held important positions as Executive Officer in the International Monetary Fund (IMF) between 1984 and 1988, and as President of the Bank of Mexico between 1998 and 2009.

João Marcello Dantas Leite Executive Director April 30, 2024*

Mr. João Marcello Dantas Leite is currently a member of BTG Pactual’s board of directors. Mr. Dantas joined Banco BTG Pactual in 1993 as head of the tax department and in 1997 he took over the finance department, as well as being responsible for the Operations, Technology and Accounting areas for more than ten years. Before joining Banco BTG Pactual, Mr. João Dantas worked at Arthur Andersen’s tax consulting department. Mr. João Dantas was also a member of ANBIMA’s Board of Directors. Mr. João Dantas has a Bachelor’s Degree in Economic Sciences from Universidade Cândido Mendes (UCM).

 

John Huw Gwili Jenkins Vice-Chairman of the Board April 30, 2024*

John Huw Gwili Jenkins is a member of the board of directors of Banco BTG Pactual and BTG Pactual Participations. Prior to joining BTG Pactual in 2008, Mr. Jenkins worked at UBS AG from 1996 to 2008, where he held several positions, including chief executive officer, global head of equities, head of equities for the Americas and head of Asia-Pacific equities. Prior to joining UBS AG, Mr. Jenkins worked at BZW Investment Management from 1986 to 1996 and Hill Samuel in 1986. Mr. Jenkins has spent most of his career based in Asia and the United States. Mr. Jenkins received his bachelor’s degree with honors in sociology and psychology from the University of Liverpool, his MBA from the London Business School and has recently participated in the Executives in Residence program at the London Business School.

Mark Clifford Maletz Independent Director April 30, 2024*

Mark C. Maletz is a member of our board of directors. Mr. Maletz is a senior fellow at the Harvard Business School and an internationally recognized expert in the areas of strategy, leadership development and organizational transformation. Prior to his time at Harvard Business School, he was a partner at McKinsey and Company where he worked in the organization practice. Mr. Maletz was also previously a professor at Babson College. Mr. Maletz is a founder of the Center for Research on Corporate Performance, the chairman emeritus of the EastWest Institute and a member of the board of Global Capacity. Mr. Maletz received his bachelor of arts degree from Dartmouth College and received a Master Degree in Cognitive Science, a Master in Computer, Information and Control Engineering and a PhD in Computer and Communication Sciences from the Industrial Technology Institute of the University of Michigan.

Nelson Azevedo Jobim Director April 30, 2024*

Mr. Nelson Azevedo Jobim received his bachelor in law and social sciences from the Universidade Federal do Rio Grande do Sul in 1968. Mr. Jobim served as member and President of the Federal Supreme Court from 1997 to 2006, Minister of Justice, Minister of Defense, President of the National Council of Justice and President of the Electoral Superior Court. Mr. Jobim acted as lawyer from 1969 to 1994; from 2006 to 2007; and from 2011 until 2016.

Roberto Balls Sallouti Director April 30, 2024*

Roberto Sallouti is Statutory Officer, the Chief Executive Officer and a member of the Board of Directors of BTG Pactual. He began his career at BTG Pactual in 1994, becoming COO in 2008. Prior to that, he was in charge of the Local and International Fixed Income Areas and, since 2015, has been the Chief Executive Officer of BTG Pactual. Mr. Sallouti is a graduate of Economics from the Wharton School of the University of Pennsylvania.

Sofia De Fátima Esteves Independent Director April 30, 2024*

Sofia De Fátima Esteves is qualified to serve in statutory positions and is a member of the Board of the Brazilian Student Association (BRASA), U-TECH, U-TECH, Fundação Colégio Porto Seguro, IBMEC, Instituto SER+, Grupo Savegnago, Agroterenas, Fundação Raízen and Grupo Cia de Talentos. Ms. Sofia De Fátima Esteves is also a member of the Strategic Committee of People at Hospital Albert Einstein and the Federal Government. Ms. Sofia De Fátima Esteves holds a bachelor‘s degree in psychology from Faculdades Metropolitanas Unidas – FMU/SP.

*Pending approval by the Central Bank of Brazil.

Name Office Election Date
Board of Executive Officers

Under the Bylaws, Banco BTG Pactual’s Board of Executive Officers shall be composed of at least two and at the most 16 members, up to two of them shall be designated Chief Executive Officers, one shall be designated Investor Relations Officer, up to seven members shall be designated as Senior Vice President, while the others shall be designated as Executive Officers. The Board of Executive Officers has broad powers to manage the business, being able to resolve on any matter related to the Company’s purpose, acquire, sell and encumber movable and immovable assets, assume obligations, enter into agreements, and settle and waive rights, except for those acts requiring authorization from the Board of Directors or the General Meeting.

The table below shows the names and positions of the Board of Executive Officers members elected, as well as a summary of each member’s business experience and other biographical information:

Name Office Election Date
Alexandre Camara e Silva Statutory Officer June 02, 2023

Alexandre Camara e Silva is a Statutory Officer at BTG Pactual, being responsible for the Bank’s Special Situations Area. He began his career at BTG Pactual in 2003. Prior to that, he was the Officer responsible for the Credit Area of Banco Prosper and for the Middle Corporate Credit area of Banco BBM. Mr. Silva is a graduate of Electrical Engineering from the Pontifical Catholic University of Rio de Janeiro (PUC-RJ) and has an MBA in Finance and Economic and Corporate Law from Fundação Getulio Vargas of Rio de Janeiro (FGV-RJ).

André Fernandes Lopes Dias Executive Officer June 02, 2023

André Fernandes Lopes Dias is a Statutory Director and Chief Risk Officer (CRO) at BTG Pactual, being responsible for the Bank’s Credit Risk Area. He started his career in BTG Pactual’s credit area in 1997 and, in 2004, became responsible for the Credit Risk Control area of Banco Pactual S.A. Prior to that, he worked as an auditor at KPMG, serving the industrial and financial sectors. Mr. Dias is a graduate of Business Administration from the Pontifical Catholic University of Rio de Janeiro (PUC-RJ).

Antonio Carlos Canto Porto Filho Senior Vice President June 02, 2023

Antonio Carlos Canto Porto Filho is Senior Vice President of BTG Pactual and works in the Bank’s Institutional Area. He began his career at BTG Pactual in 1997. Prior to that, he was the Vice President in charge of the areas of Financial Management, Leasing, Insurance, Real Estate, Legal Affairs, and Marketing of Banco de Crédito Nacional, where he worked for 28 (twenty-eight) years.

Bruno Duque Horta Nogueira Executive Officer June 02, 2023

Bruno Duque Horta Nogueria is a Statutory Officer and General Counsel at BTG Pactual, being responsible for the Bank’s Global Legal Department. He started his career in BTG Pactual’s Legal Area in 2000. Prior to that, he also served at Eletropaulo, Grupo Rede, and the Brazilian Electricity Regulatory Agency (ANEEL). Additionally, he was Special Advisor to the Department of Energy of the Ministry of Mines and Energy, developing the Energy Rationing Plan of the Brazilian Federal Government in 2001. Mr. Nogueira is a graduate of Law from Faculdade de Direito do Largo São Francisco of the University of São Paulo (USP-SP).

Christian Flemming Executive Officer June 02, 2023

Christian Flemming is a Statutory Officer and Chief Information Officer and Chief Operating Officer (CIO and COO) at BTG Pactual, being responsible for the Bank’s Operations and Technology Area. He started his career in BTG Pactual’s Investment Banking area in 2007. Prior to that, in 2015, he was appointed as COO and CFO of BSI Bank and, in 2018, as COO of EFG Bank, where he worked until 2020. Mr. Flemming has a bachelor’s degree in Mechanical Engineering from Mackenzie Presbyterian University of São Paulo and in Business Administration from Fundação Getulio Vargas (FGV-SP).

Guilherme da Costa Paes Executive Officer June 02, 2023

Guilherme da Costa Paes is a Statutory Officer at BTG Pactual, being responsible for the Bank’s Investment Banking Area. He began his career in BTG Pactual’s Investment Banking Area in 1994. Prior to that, he served as Senior Investment Analysis Officer at Chase Manhattan Bank. Mr. Paes has a bachelor’s degree in Business Administration from Universidade Santa Úrsula in Rio de Janeiro and an MBA in Business Administration with emphasis on finance from IBMEC.

Iuri Rapoport Executive Officer and CSO June 02, 2023

Iuri Rapoport is a Statutory Officer and Chief Sustainability Officer (CSO) at BTG Pactual, being responsible for the Area of Operational and Strategic Matters linked to the Senior Management and co-responsible for the Bank’s ESG and Impact Investment areas. He started his career at BTG Pactual in 1995 and, in 1999, became co-responsible for the Bank’s Legal Department. Between 2003 and 2009, he was BTG Pactual’s General Counsel. In 2011, he was the COO of Banco Panamericano. Mr. Rapoport has a bachelor’s degree in Law from Faculdade de Direito do Largo São Francisco of the University of São Paulo (USP-SP) and a Master of Laws (LLM) – International Finance from King’s College London.

Marcelo Flora Sales Executive Officer June 02, 2023

Marcelo Flora Sales is a Statutory Officer at BTG Pactual, being in charge of the Bank’s Digital and Banking Area. He began his career at BTG Pactual in 2000, being responsible for the Distribution area of the Asset Management segment and for the area of Distribution of Fixed Income, Currency and Commodity (FICC) Products. Mr. Sales has a bachelor’s degree in Civil Engineering from the Federal University of Rio de Janeiro (UFRJ-RJ).

Mariana Botelho Ramalho Cardoso CCO June 02, 2023

Mariana Cardoso is a Statutory Officer and Chief Compliance Officer (CCO), being responsible for BTG Pactual’s Compliance Area. She began her career in BTG Pactual’s investment fund area in 1996, and since 2016, has been serving in the Bank’s Compliance Department. Ms. Cardoso has a bachelor’s degree in Economics from the Federal University of Rio de Janeiro (UFRJ-RJ).

Oswaldo de Assis Filho Executive Officer June 02, 2023

Oswaldo de Assis Filho is a Statutory Officer at BTG Pactual, being responsible for the Bank’s Institutional Relationship and Corporate Finance Areas. He started his career at BTG Pactual in 1998, being in charge of the Bank’s Long-Term Investment Area. Prior to that, he had held the position of Vice President of Banco de Crédito Nacional since 1976. Mr. Filho has a bachelor’s degree in Electrical Engineering from the Aeronautics Institute of Technology (ITA) and a master’s degree in Economics from the University of São Paulo (USP).

Renato Hermann Cohn Investor Relations Director and CFO June 02, 2023

Renato Hermann Cohn is Statutory, Chief Financial Officer (CFO) and Investor Relations Officer at BTG Pactual, being in charge of the Bank’s Finance and Investor Relations Areas. He started his career at BTG Pactual in 1999 as Private Banking Officer. In 2002, he was Head of the Wealth Management area in São Paulo. In 2008, he was Head of Products and Services of former Banco UBS Pactual. Then, Mr. Cohn was relocated to Switzerland to head the transfer of operations to BSI, serving as Deputy Chief Executive Officer (DCEO) and head of UHNWI Development. In 2016, he was the CEO of BSI Bank Ltd (Singapore), during the institution’s integration process with EFG Singapore. He graduated in Production Engineering from the Polytechnic School of the University of São Paulo (USP). .

Renato Monteiro dos Santos Senior Vice President June 02, 2023

Renato Monteiro dos Santos is Senior Vice President of BTG Pactual, being responsible for the Bank’s Treasury Department in Latin America, in addition to the Fixed Income, Foreign Exchange and Commodity Areas. He began his career at BTG Pactual in 1997 as a trader and was in charge of the Bank’s Fixed Income (FICC) Area between 2004 and 2006. Mr. Santos has a bachelor’s degree in Business Administration from Fundação Getulio Vargas (FGV-SP) and in Economics from the University of São Paulo (FEA-USP).

Roberto Balls Sallouti CEO June 02, 2023

Roberto Sallouti is Statutory Officer, the Chief Executive Officer and a member of the Board of Directors of BTG Pactual. He began his career at BTG Pactual in 1994, becoming COO in 2008. Prior to that, he was in charge of the Local and International Fixed Income Areas and, since 2015, has been the Chief Executive Officer of BTG Pactual. Mr. Sallouti is a graduate of Economics from the Wharton School of the University of Pennsylvania.

Rogério Pessoa Cavalcanti de Albuquerque Executive Officer June 02, 2023

Rogério Pessoa Cavalcanti de Albuquerque is a Statutory Officer at BTG Pactual, being responsible for the Bank’s Wealth Management Area. He started his career at BTG Pactual in 1998, being in charge of the Private Banking activities. Prior to that, he served as Vice President of the Private Banking Department of Delta Bank and as a Broker for the International Customer Accounts Division of Prudential Securities. Mr. Albuquerque is a graduate of Economics from the Pontifical Catholic University of Rio de Janeiro and has an MBA in Business Administration from the University of Illinois.

Name Office Election Date
Committees

Audit Committee

The Regulation in force – CMN Resolution 4910, of 2021, CVM Resolution 23, of 2021, and CNSP Resolution 321, of 2015 – governs the rendering of independent audit services to institutions that are part of the financial sector, including clearing houses and providers of registration services for marketable securities and other assets..

These Resolutions also establish that the institutions regulated by them must create a statutory body named “audit committee”, to be composed of at least three members.

CMN Resolution 4910, in turn, establishes that the audit committee must be comprised of the institutions that are part of segments S1, S2, and S2, as defined by CMN Resolution 4553, of 2017.

Under CVM Resolution 23, one of the committee members must also be part of the institution’s board of directors, provided that he/she does not participate in the executive board of the institution or companies that are part of the conglomerate.

CMN Resolution 4910 allows the creation of a single committee, by the lead company, for the entire prudential conglomerate. BTG Pactual makes use of this prerogative and has a single audit committee for all the companies that are part of the BTG prudential conglomerate, except for Banco Pan S.A., which has its own audit committee.

The table below shows the names and functions of the members of Banco BTG Pactual’s Audit Committee, as well as a brief description of their professional and educational background:

Name Office Election Date
Anibal Cardoso Joaquim Sitting Member Mat 15, 2024*
Sidnei Corrêa Marques Qualified Member/ Coordinator May 15, 2024*

Sidnei Corrêa Marques has a bachelor’s degree in Accounting from Centro Universidade do Distrito Federal and graduate degrees in: (i) Management from the University of Brasília; (ii) Audit from the University of São Paulo; and (iii) Tax Accounting from the University of Brasília. He joined the Central Bank of Brazil in 1977, holding the positions of: (i) Officer of Financial System Organization and Resolution (2011-2019) (ii) Head of the Financial System Monitoring Department (2009-2011); (iii) Advisor to the Oversight Office (2006-2009): (iv) Head of the Oversight Department of Cooperatives and Non- Banking Institutions (2005-2006); and (v) Head of the Department of International Capitals (2004-2005). In the exercise of his duties at the Central Bank of Brazil, he represented it in: (i) the Resolution Steering Group, a group of the Financial Stability Board in charge of studying and proposing recommendations on banking resolution to the G-20 member countries; (ii) the Basel Committee, a forum operating at the Bank for International Settlements (BIS), with the mission to issuing recommendations on banking supervision; (iii) the International Monetary Fund’s working group responsible for preparing and issuing recommendations on credit bureaus; and (iv) the Association of Supervisors of Banks of the Americas (ASBA). He has also a member of the Fiscal Council of the Private Pension Central Bank Foundation (Centrus).

Eduardo Henrique de Mello Motta Loyo Sitting Member April 29, 2020

Eduardo Henrique de Mello Motta Loyo is a partner and member of the Board of Directors of BTG Pactual. Prior to joining the company as the chief economist in 2007, he was the International Monetary Fund’s executive officer, in Washington, D.C., elected by Brazil and other 8 countries from the Western Hemisphere. From 2003 to 2005, he was an officer at the Central Bank of Brazil and a member of the Bank’s Monetary Policy Committee (Copom). He was a professor in the Department of Economics of the Pontifical Catholic University of Rio de Janeiro (PUC-Rio) and of the John F. Kennedy School of Government at Harvard University; a visiting professor at Graduate School of Business – Columbia University; and at INSEAD. Additionally, he served as an officer for the Institute for Economic Policy Studies – Casa das Garças in Rio de Janeiro, and for the Center for Public Policy Debate (CDPP), in São Paulo. He has a bachelor’s and a master’s degree in Economics from PUC-Rio and a Ph.D. in Economics from Princeton University.

*Pending approval by the Central Bank of Brazil.

Risk and Capital Committee

CMN Resolution 4557, of 2017, establishes that the financial institutions and other institutions authorized to operate by the Central Bank of Brazil (Bacen) must have specialized risk and capital management structures, including a “risk committee”, which must be comprised of at least three members who comply with its requirements. This Resolution allows the creation of a single risk committee for the entire prudential conglomerate.

Under this Resolution, Banco BTG Pactual has a single risk and capital committee that operates in agreement with all BTG Prudential Conglomerate companies.

The functions of the Risk and Capital Committee include supervising the operation of BTG Pactual’s risk and capital management structures, as well as maintaining the executive board and board of directors informed about the operation of these structures and the progression of risks and capital of BTG Conglomerate’s companies.

Below are the names, positions, and election dates of the members of BTG Pactual’s Risk and Capital Committee, and a brief description of their professional and educational background:

Name Office Election Date
João Marcello Dantas Leite Sitting Member 08/09/2022

Mr. João Marcello Dantas Leite is an Executive Officer at BTG Pactual. He joined Banco BTG Pactual in 1993 as the responsible for the Tax Department, and in 1997, he took over the accounting area of BTG Pactual. Before joining Banco BTG Pactual, Mr. João Dantas worked in the Tax Advisory Department of Arthur Andersen. He was also a member of ANBIMA’s Board of Directors. Further, Mr. João Dantas has a bachelor’s degree in Economics from Universidade Candido Mendes-RJ.

Tatiana Leite Terra Prates Sitting Member 08/09/2022

Ms. Tatiana Leite Terra Prates is currently Chief Technology and Operating Officer (CTO and COO) of Too Seguros, a co-controlled company of BTG Pactual. Ms. Tatiana Prates started her career in the Financial Modeling area of the BTG Pactual Group in 2001, then she worked on the proprietary technology desk, being in charge of BTG Pactual’s offices in North America. In 2006, she became responsible for covering the technology sectors of emerging global markets and, in 2009, she was responsible for managing the emerging markets portfolio. In 2013, she became COO for BTG Pactual’s Private Equity area. And in 2015, she was indicated as Executive Superintendent at Pan Seguros. Ms. Tatiana Prates has a bachelor’s degree in Computer Engineering from the Pontifical Catholic University of Rio de Janeiro.

Anibal Cardoso Joaquim Sitting Member 08/09/2022

Mr. Anibal Cardoso Joaquim is currently a member of BTG Pactual’s Risk Committee. He served as a sitting member of BTG Pactual’s Audit Committee until June 2021. Before joining BTG Pactual, Mr. Anibal Cardoso was responsible for Citibank Group’s controllership and tax areas between 1983 and 1995. Then, he became the person in charge of the controllership area of the Credit Suisse – Brazil conglomerate. From 2013 to 2019, he was the Chief Operating and Financial Officer (COO and CFO) of said conglomerate. Mr. Anibal Cardoso has a bachelor’s degree in Business Administration from the University of São Paulo (USP) and in Accounting from Faculdade Paulo Eiró in São Paulo.

Compensation Committee

CMN Resolution 3,921, of November 25, 2010 (“Resolution”), provides that financial institutions and other institutions authorized to operate by the Central Bank of Brazil operating as a publicly-held company, or who are required to constitute an audit committee, under the terms of the regulations in force, must form, by the date of the first annual shareholders’ meeting or a shareholder meeting that takes place after January 1, 2012, an organizational component called a Compensation Committee.

Under this Resolution, Banco BTG Pactual has a single compensation committee that operates in agreement with all BTG Prudential Conglomerate companies.

The Compensation Committee’s main duty is to propose to the Board of Directors of BTG Pactual the polices and guidelines for the compensation of the members of BTG Pactual’s management and Executive Board, based on the performance targets established by the Board of Directors and its Partnership business model, in addition to the provisions of the Resolution.

Below are the names, positions, and election dates of the members of BTG Pactual’s Compensation Committee, and a brief description of their professional and educational background:

Name Office Election Date
Renato Monteiro dos Santos Effective Member 05/22/2024

Renato Monteiro dos Santos is Senior Vice President of BTG Pactual, being responsible for the Bank’s Treasury Department in Latin America, in addition to the Fixed Income, Foreign Exchange and Commodity Areas. He began his career at BTG Pactual in 1997 as a trader and was in charge of the Bank’s Fixed Income (FICC) Area between 2004 and 2006. Mr. Santos has a bachelor’s degree in Business Administration from Fundação Getulio Vargas (FGV-SP) and in Economics from the University of São Paulo (FEA-USP).

Roberto Balls Sallouti Effective Member 05/22/2024

Roberto Balls Sallouti is Statutory Officer, the Chief Executive Officer and a member of the Board of Directors of BTG Pactual. He began his career at BTG Pactual in 1994, becoming COO in 2008. Prior to that, he was in charge of the Local and International Fixed Income Areas and, since 2015, has been the Chief Executive Officer of BTG Pactual. Mr. Sallouti is a graduate of Economics from the Wharton School of the University of Pennsylvania.

Mateus Ivar Carneiro Effective Member 05/22/2024

Mateus Ivar Carneiro. Mr. Mateus Carneiro is currently head of Human Resources at Banco BTG Pactual. He joined the Bank in 1997 as a Business Unit Controller. From 2008 to 2012, he was manager of the Fixed Income, Currency and Commodities division at Banco BTG, being responsible for the integration of new acquisitions and the development of new businesses for the BTG Pactual Group. Mr. Mateus Carneiro holds a bachelor’s degree in Production Engineering from the Federal University of Rio de Janeiro.