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After months of speculations, three executives at Brazilian investment bank BTG Pactual are leaving the institution.
Chairman Marcelo Kalim; the head of the private equity unit, Carlos Fonseca; and Leandro Torres, who leads the brokerage arm, are leaving the bank.
"Carlos Fonseca and Leandro Torres have opted to sell their shares in the partnership, without any relevant implications for the bank," BTG said in a statement.
"Marcelo Kalim is developing a project related to a digital banking platform. There is still no definition of the link between the project and the bank," it added, highlighting that it is negotiating a non-compete clause with Kalim.
In recent months, local media reported that the three executives were negotiating their departure in order to launch a fintech.