 On 14 July 2014, BTG Pactual purchased Banca della Svizzera Italiana (BSI), with the purchase being subject to approval by the Swiss Financial Market Supervisory Authority (FINMA).The CEO of FINMA is Mark Branson who was previously the CEO of UBS Securities Japan Ltd. Of significance, Branson reported directly to Huw Jenkins, the CEO of UBS Investment Bank and who is now a partner and director of BTG Pactual.Branson also worked alongside André Esteves, now CEO of BTG Pactual while both worked at UBS in its management committee in November 2007 during which time Andre Esteves allegedly committed insider trades.