Any bank intern in Latin America would have seen the SVB risk, says André Esteves

Any bank intern in Latin America would have seen the SVB risk, says André Esteves

Chairman of the board of directors of BTG Pactual, AndrEsteves harshly criticized the management of the SVB (Silicon Valley Bank), which went bankrupt at the beginning of the month after being hit hard by the interest rate hike process initiated by the Fed (Federal Reserve, central bank of the United States). Read more (03/28/2023)

André Esteves says that 'any internee' would have seen the SVB risk

According to the chairman of the board of directors of BTG, the volatility that shakes global markets is the result of 15 years of complacency with interest rates close to zero, which led to widespread excesses.

André Esteves: 'any internee' would have seen the SVB risk

Senior partner at BTG Pactual said that the American bank crash was the result of 'gross mismanagement' caused by complacency with 15 years of low interest rates