January 18, 2019 / 3:45 PM / a year ago

New Brazilian online bank founded by former BTG Pactual execs begins operations

SAO PAULO, Jan 18 (Reuters) - The former chairman of Brazilian investment bank BTG Pactual SA, Marcelo Kalim, has received Central Bank authorization on Friday to begin operations of his new venture, online bank C6.

Kalim left BTG last year and is C6 Bank’s controlling shareholder and Chief Executive Officer, according to spokeswoman Verena Fornetti. Other relevant partners in the group of 20 shareholders are former BTG executives Carlos Fonseca, Leandro Torres and Luiz Marcelo Calicchio.

C6 Bank will not have any brick and mortar branch and begins to operate with 250 million reais ($67 million) in capital, according to the Central Bank authorization published in Brazil’s official gazette on Friday. Shareholders will invest 500 million reais in the business through December and the bank begins operations with 320 employees. ($1 = 3.7417 reais) (Reporting by Tatiana Bautzer)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below