Arminio Fraga
Encyclopedia
Arminio Fraga is a Brazilian economist who was president of the Central Bank of Brazil
from 1999 to 2002. He is also a former associate of George Soros
and his Quantum Fund. Since 2001 he has been a member of the influential Washington-based financial advisory body, the Group of Thirty
.
He received his PhD in economics from Princeton University in 1985.
In 2003, he founded the Rio de Janeiro
based investment company
, Gávea Investimentos
.
Fraga has been called the Alan Greenspan
of Latin America for his skillful handling of Brazilian monetary policy
during his tenure as CBB president.
Fraga worked for both Fernando Henrique Cardoso
government.
In 2009, he became a member of the International Advisory Council of the Chinese sovereign wealth fund
China Investment Corporation
.
In October 2010, Gávea Investimentos
was acquired by Highbridge Capital Management, a subsidiary of J.P. Morgan Asset Management.
Central Bank of Brazil
The Central Bank of Brazil is Brazil's monetary authority. It was established on December 31, 1964.The Central Bank is linked with the Ministry of Finance. Like other central banks, the Brazilian central bank is the principal monetary authority of the country...
from 1999 to 2002. He is also a former associate of George Soros
George Soros
George Soros is a Hungarian-American business magnate, investor, philosopher, and philanthropist. He is the chairman of Soros Fund Management. Soros supports progressive-liberal causes...
and his Quantum Fund. Since 2001 he has been a member of the influential Washington-based financial advisory body, the Group of Thirty
Group of Thirty
The Group of Thirty, often abbreviated to G30, is an international body of leading financiers and academics which aims to deepen understanding of economic and financial issues and to examine consequences of decisions made in the public and private sectors related to these issues...
.
He received his PhD in economics from Princeton University in 1985.
In 2003, he founded the Rio de Janeiro
Rio de Janeiro
Rio de Janeiro , commonly referred to simply as Rio, is the capital city of the State of Rio de Janeiro, the second largest city of Brazil, and the third largest metropolitan area and agglomeration in South America, boasting approximately 6.3 million people within the city proper, making it the 6th...
based investment company
Investment company
An investment company is a company whose main business is holding securities of other companies purely for investment purposes. The investment company invests money on behalf of its shareholders who in turn share in the profits and losses....
, Gávea Investimentos
Gávea Investimentos
Gávea Investimentos is an independent asset management company, based in Brazil and regulated by the Brazilian Central Bank and the Comissão de Valores Mobiliários ....
.
Fraga has been called the Alan Greenspan
Alan Greenspan
Alan Greenspan is an American economist who served as Chairman of the Federal Reserve of the United States from 1987 to 2006. He currently works as a private advisor and provides consulting for firms through his company, Greenspan Associates LLC...
of Latin America for his skillful handling of Brazilian monetary policy
Monetary policy
Monetary policy is the process by which the monetary authority of a country controls the supply of money, often targeting a rate of interest for the purpose of promoting economic growth and stability. The official goals usually include relatively stable prices and low unemployment...
during his tenure as CBB president.
Fraga worked for both Fernando Henrique Cardoso
Fernando Henrique Cardoso
Fernando Henrique Cardoso – also known by his initials FHC – was the 34th President of the Federative Republic of Brazil for two terms from January 1, 1995 to December 31, 2002. He is an accomplished sociologist, professor and politician...
government.
In 2009, he became a member of the International Advisory Council of the Chinese sovereign wealth fund
Sovereign wealth fund
A sovereign wealth fund is a state-owned investment fund composed of financial assets such as stocks, bonds, property, precious metals or other financial instruments. Sovereign wealth funds invest globally. Some of them have grabbed attention making bad investments in several Wall Street financial...
China Investment Corporation
China Investment Corporation
China Investment Corporation is a sovereign wealth fund responsible for managing part of the People's Republic of China's foreign exchange reserves. CIC was established in 2007 with approximately US$200 billion of assets under management, making it one of the largest sovereign wealth funds...
.
In October 2010, Gávea Investimentos
Gávea Investimentos
Gávea Investimentos is an independent asset management company, based in Brazil and regulated by the Brazilian Central Bank and the Comissão de Valores Mobiliários ....
was acquired by Highbridge Capital Management, a subsidiary of J.P. Morgan Asset Management.
External links
- Publications at the National Bureau of Economic ResearchNational Bureau of Economic ResearchThe National Bureau of Economic Research is an American private nonprofit research organization "committed to undertaking and disseminating unbiased economic research among public policymakers, business professionals, and the academic community." The NBER is well known for providing start and end...