Feb 23, 2020

Pro-growth agenda and positive outlook for capital markets h

5 min
SÃO PAULO , Feb. 21, 2020 /PRNewswire/ -- Progress on fiscal and tax reforms, the go...

SÃO PAULO , Feb. 21, 2020 /PRNewswire/ -- Progress on fiscal and tax reforms, the government´s privatization program and the outlook for capital markets were some of the themes debated at the panels and presentations of the 21st BTG Pactual CEO Conference, held on Tuesday (18) and Wednesday (19) in São Paulo. Over 3,000 people, including economists, investors, executives and clients of the bank, were present to closely follow the opinions of leaders, politicians and specialists from different areas of the market during the 2-day event.

André Esteves, senior partner at BTG Pactual, gave his view on the macroeconomic scenario, highlighting the positive outlook for Brazil. "The market underestimates the fiscal gain that Brazil will obtain from the Pension Reform and the new level of interest rates. Year after year, we will see such a significant improvement in the fiscal situation, and this will be a positive newsflow that will still impact prices and that currently isn't being factored-in", he highlighted.

According to Esteves, the agenda now is entering the zone of productivity. "The administrative reform has a relevant fiscal aspect and a little bit of productivity. The tax reform is more crucial in terms of productivity than fiscal aspects per se, but the two reforms are equally important", he highlighted.

The senior partner of BTG Pactual added that Brazil isn't qualified to grow via productivity, but is eligible to grow via stability. "Growing between 2% and 3% in 2020 is feasible", he stated. In his opinion, a series of factors contribute to the optimism on the future: a relatively deleveraged economy, low (and sustainably low) interest rates, mild credit expansion and functional capital markets.

"The strong presence of companies and investors at the conference signals what is coming. This year we will witness a fantastic sequence – not in size, but in quality – of new IPOs and other capital market activities", he said.

Roberto Sallouti, CEO of BTG Pactual, also highlighted the tone of the event. "Accompanying the various presentations and panels that we had with political leaders, businessmen and investors, we noted a lot of realism, and it was clear that everyone is aware of the challenges but, mainly, of the opportunities on offer in Brazil. I leave the event hugely optimistic that Brazil will continue in the right direction in 2020, with progress on reforms and bills that are crucial to growth", he said.

The CEO Conference 2020 was also broadcast live on YouTube and is now available on BTG Pactual´s platform channel.

Day One

The government´s privatization program was the main topic commented on in the first panel, in which the CEO of BTG Pactual Asset Management, Eduardo Guardia, received Privatization Secretary Salim Mattar. Then, it was the turn of Fabio Kanczuk, Central Bank Director of Economic Policy, and Mansueto Almeida, Treasury Secretary, to talk about the challenges, impacts and benefits brought by progress on the fiscal and monetary reforms in Brazil.

The state governors of São Paulo, Rio de Janeiro and Rio Grande do Sul also attended day one of the CEO Conference. Mediated by the journalist Augusto Nunes, João Dória (São Paulo), Wilson Witzel (Rio de Janeiro) and Eduardo Leite (Rio Grande do Sul) discussed the role of states in the reform and the highlights of the first year of their mandates, as well as debating current themes regarding Brazil´s political scenario.

Amos Genish, partner of BTG Pactual and Head of the Digital Retail Unit, mediated the panel with the participation of representatives from tech giants: Antônio Martins, CEO of IBM, Luiz Tonisi, CEO of Nokia Brazil, Rodrigo Galvão, CEO of Oracle Brasil and Tânia Cosentino, CEO of Microsoft Brasil.

Rodrigo Maia, Lower House Speaker, and Nelson Jobim, Chairman of BTG Pactual, joined forces in one of the most eagerly anticipated panels. Among the themes debated, Maia highlighted the agendas of the administrative and tax reforms, his optimism on their progress and his relationship with Congress.

Kicking off the afternoon session, "The New Real Estate Cycle" was the topic of the panel featuring José Auriemo Neto, CEO of JHSF, Rubens Menin, CEO and Chairman of MRV, and Michel Wurman, partner and head of Real Estate at BTG Pactual. The transformation of the construction sector, the outlook for a rebound in Brazil´s real estate market and the importance of the environmental question for sustainable growth were among the topics debated.

The first day of the 21st BTG Pactual CEO Conference 2020 ended with a panel on Equities, with the participation of Alexandre Silvério, CIO of AZ Quest, Bruno Garcia, CIO of Truxt, and Pedro Maia, partner of BTG Pactual, and was mediated by Carlos Sequeira, partner and Head of Research at BTG Pactual.

Day Two

The start of the second day of the event was marked by debates on the current Brazilian political and economic panorama. André Esteves, senior partner of BTG Pactual, talked to journalist Carlos Andreazza. Then, it was the turn of Eduardo Guardia, CEO of BTG Pactual Asset Management, to receive Marcos Troyjo, Special Secretary of Foreign Trade and International Affairs at the Economy Ministry, who also commented on Brazil´s exports scenario.

In the afternoon session, Frederico Pompeu, BTG Pactual partner and Head of boostLAB, mediated a panel on disruption in the financial sector. The theme was debated by Andre Maciel, partner of Softbank, João Vitor Menin, CEO of Banco Inter, and Paulo Passoni, partner-investor of SoftBank. Then, Bruno Balduccini, partner of Pinheiro Neto Advogados, mediated a conversation with Central Bank Director João Manoel P. de Mello and Congressman Vinicius Poit on technology and innovation regulations.

The last panel of the day discussed global prospects, such as the situation of China, US elections and the trade war. The participants were Marcos Caramuru, Brazil´s ambassador in Beijing, Oliver Stuenkel, a professor at FGV, and the journalist William Waack, who was also the moderator.

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