8/27/2014 @ 12:36下午 7,765 views
Meet The Multimillionaire Banking Heir Who Is Backing Brazil's Marina Silva Presidential Bid
Brazil’s presidential elections were turned upside down two weeks ago when a fatal jet crash killed presidential candidate Eduardo Campos. Campos’ running mate Marina Silva replaced him on the ticket and is already leading in the polls. Investors from around the world are watching Silva, an environmental leader who placed third in the 2010 presidential election as a then Green Party (PV) candidate, with nearly 20% of the votes. (Silva has since left PV to found a new party, the “Sustainability Network,” but it failed to achieve the required number of signatures from new members and was ineligible to register with the Electoral Court.)
Last October, 56-year-old Silva was invited by Eduardo Campos to form a ticket to run for the presidency, and joined his Brazilian Socialist party (PSB) as Campos’ vice-president in its presidential bid. After his tragic death, Silva was the natural choice to replace him, though she has made it clear that as soon as her party gets legalized she will leave the PSB.
The simple fact that she could win the election has had a positive impact on the markets. The consensus is that anything is worth it to oust Rousseff and revive Brazil’s economy, which has been hit by slow growth and high inflation due to the left-leaning policies of Rousseff’s Workers’ Party government. Shares of the Bovespa rose to an 18-month high last week on increasing hopes of a victory for Silva or Aecio Neves, the main opposition candidate, both of whom say they would intervene less in the economy and be friendlier to business.
One of Silva’s biggest backers is banking heir and philanthropist Maria Alice Setubal, more commonly referred to as Neca, who is also acting as a campaign coordinator for the candidate. A member of one of Brazil’s most distinguished banking dynasties, Setubal is a shareholder of Sao Paulo-based conglomerate Itausa, which has interests in finance, real estate and a range of industries. Itausa also controls Itau Unibanco, the largest bank in the southern hemisphere with total assets of $500 billion.
More:
http://www.forbes.com/sites/andersonantunes/2014/08/27/meet-the-multi-millionaire-banking-heir-who-is-backing-brazils-marina-silva-presidential-bid/
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