The future Minister of Finance Paulo Guedes announced on Thursday (15th) to have chosen an executive from the baking world to lead the Brazilian Central Bank next year. He will be Roberto Campos Neto, 49. Guedes also confirmed that the Secretary of Treasure Mansueto Almeida will remain in his role in the upcoming Bolsonaro administration.
Campos Neto, a director at Santander bank, was already being considered for the role of Central Bank president even before the election. In his favor, he has his professional experience in banking and finance and total confidence from Paulo Guedes.
Members of the transition team say that Campos Neto knows the ins and outs of the relationship between the Central Bank and the country's banking system, which will give him leeway and knowledge to deal with speculatory maneuvers against the Brazilian real, for example.
Integrantes da equipe de transiÃ§Ã£o afirmam que o futuro presidente conhece a cozinha da relaÃ§Ã£o dos bancos com o BC, o que lhe garante traquejo para lidar com corridas especulativas contra o real, por exemplo.
Roberto Campos Neto
The economist has postgraduate degrees from UCLA in Los Angeles and a career of almost 18 years at Santander, interrupted by a short stint at a hedge fund management company.
During the recruitment process, another important detail was considered: Campos Neto is the grandson of Roberto Campos (1917-2001), one of the most important liberal economists from Brazil, and with whom had a close relationship.
Roberto Campos was a Minister of Planning during the General Castello Branco administration. He also negotiated the Brazilian external debt, and, incidentally, he was one of the first proposers of the Central Bank's autonomy as a way to avoid political interference.
Translated by NATASHA MADOV