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Brazil Banks on Experience
Ranked among the world’s largest economies, Brazil and the left-leaning government of newly elected President Lu íz In ácio Lula da Silva soothed wary financial markets by selecting Henrique Meirelles (93rd AMP), former head of global banking at FleetBoston, to lead the country’s Central Bank. “Our situation today is absolutely viable, Brazil’s economic basics are absolutely solid, and we have conditions to grow,” Meirelles told the New York Times (December 13, 2002).
Meirelles headed BankBoston’s Brazil operations from 1984 to 1996 and had recently been elected a deputy from his home state of Goi ás as a member of a party that opposed Lula’s Workers Party. “Despite being a member of the outgoing governing party and making his career in international finance, Mr. Meirelles won points with Mr. da Silva partly because of his pioneering social work,” the Times noted. During Meirelles’s tenure, BankBoston was active in restoring São Paulo’s decaying city center and helping homeless street children.
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