Alfred Mallol is leaving BTG Pactual Asset Management. The former Goldman Sachs derivatives trader spent just over 2.5 years with the fund, and is understood to have quit last week.
Mallol's exit comes after Brazil's federal police raided the offices of Banco BTG Pactual SA last month, along with addresses of its founder, Andre Esteves. Raids were related to the sale of African oilfields to the bank.
Mallol declined to comment for this article and the reason for his exit is unclear. Assets under management previously fell from a high of $50bn to $37bn after Esteve, who was chairman and chief executive at the time, was arrested in 2015 on suspicion of attempting to obstruct an investigation into kickbacks at the state-controlled oil company. However, assets under management are understood to have risen at BTG this year.
Esteves was freed from house arrest in 2016. Mallol joined BTG a year later along with Ali Biaz from Société Générale to work on a volatility fund.
Prior to BTG Mallol spent nearly 10 years at Goldman Sachs in London. It's not clear where he's going next, but it's expected that he will remain on the buy-side.
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