19 New Millionaires a Day in Brazil, Since 2007, According to Study

While Wall Street and The City are beleaguered and “Occupied,” Brazilian financial markets are expanding and Foreign Direct Investment finished 2011 at a record US $65 Billion. Ã¢â‚¬Å“Nobody wants to miss out on a market like this,” says one financial services executive.” 

Brazilian financial markets are still light years behind Wall Street. But this is exactly what is attracting these professionals: the room for growth. "Unlike the U.S. and Europe, our capital market is expanding," says Alberto Kiraly, vice president of the Brazilian Association of Financial and Capital Markets (Anbima).

One indicator of this growth are the funding of investment in Brazilian companies through fixed-income securities. "They only depend on the performance of the domestic market, so it reflects what happens here, without contamination of the external crisis," said Kiraly. Until November, the offering of these securities totaled R $ 77.7 billion - R $ 2.3 billion more than the same period in 2010.

"The equity market, which includes the issuance of shares, should also grow," says Kiraly. In 2011, investments in this area put off by the crisis in Europe. So waiting in the drawer are 67 public offerings that together are worth $ 28 billion, all under review at the Securities Commission (CVM). "At the first sign of stability, investors should go back and offers will be implemented," said Kiraly.

Another indicator of market development is foreign direct investment. In 2011, it will pass the  U.S. $ 65 billion mark , and help finance the current account deficit of U.S. $ 53 billion.

Millionaires

But there is one statistic in particular that brightens the eyes of many foreign and Brazilian expatriates: 19 people become millionaires every day in Brazil since 2007, according to a study presented in Miami, Latin America Private Banking Conference 2011, a month ago. "Nobody wants to miss out of a market like this," says the executive of Anbima. In this environment, banks and companies need highly skilled professionals in the financial and business. 

"Several companies have asked me to get Wall Street professionals, both foreign and domestic," says Angelica Wiegand, a headhunter at  CTPartners Brazil. 

"We don´t have statistics, but we have noticed people in large international banks asking for transfers to Brazil," says Rodrigo Soares, the Hays company, specializes in international recruitment. 

The arrival of these migrants has been well received by the market. "They are very professional templates, which is often difficult to find here," says Angelica.

But everything is not always in favor of returning. "We hire people from outside because salaries of Brazilian professionals  have become so inflated in recent years," says Daniela, at Raymond James."So, it's cheaper to bring in outsiders," she says.

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