LT CFO SÃO PAULO
LT CFO Event in São Paulo
agenda (“the government has adopted a very shy approach”), or through expanding partnerships with the private sector to invest in infrastructure, in line with the recent government plan. While the external environment continues to be clouded the Santander economist forecast 1.8 percent GDP growth in Brazil in 2012, following a 4.4 percent average for 2003 through 2010. He expected growth to pick up at 3.5 percent to 4 percent next year. “Long term potential growth will remain at a disappointing 3 percent to 3.5 percent,” said Molan, reflecting a drop in productivity and weak competitiveness. The other potentially negative factor for the Brazilian economy is the end of a long period of increases in commodity prices.
“The supercycle is over,” said Molan, referring to a drop in global demand for commodities.
PRIZE During the meeting, the winner of the award Latin Trade CFO of the Year — Brazil, was announced. It went to Eliseo Santiago Perez Fernandez, executive director of administration & finance, JBS. This award was presented to Jerry O’Callaghan, JBS’ investor relations director, on behalf of Eliseo Santiago Perez Fernandez. O’Callaghan summarized JBS’ aggressive expansion strategy abroad with the motto: “If you’re good in Brazil, you can be good anywhere around the world.” JBS has a presence on the five continents and is the world’s No. 1 producer of beef, lamb
Luis Felipe Schiriak, CFO, Copersucar; Christian-Philippe Schrader, Vice President Chief Financial Officer & Strategy, Walmart Latinoamerica
and chicken, as well as a leather processor. Afterwards, the discussion turned to planing and performance management. Jayme Fonseca, CFO of Construtora Norberto Odebrecht, the construction arm of the Odebrecht conglomerate, summarized his company policies as conservative in finances and aggressive in business. Daniel Oliveira, executive corporate finance director at Petrobras, also referred to Odebrecht’s centralized cash management. “Our big challenge is to handle the capital discipline and to act also on a centralized basis in terms of capital management, perhaps to do eventually what Odebrecht can do today, which is completely centralizing the trea-
Rodrigo Neami, Finance Manager, Agrega/ AmBev
sury and the financial operations at headquarters,” said Oliveira. Rogerio Neri Menezes, financial director, AkzoNobel Pulp and Paper Chemicals also presented his view . The executive said there was no “right or wrong” in terms of finance function design and that it must be developed according to the size and the specifics of the company in question The gathering closed with a lunch in which the CAF representative for Brazil, Moira PazEstenssoro, presented the achievements of the institution, spanning its 43-year history. “The BRICS are looking to copy CAF for their own banks,” she said —Thierry Ogier reported from Sao Paulo
Moira Paz-Estenssoro, Director- Representative, CAF
CONNECTING LATIN AMERICA’S CFO COMMUNITY SEPTEMBER-OCTOBER 2012 LATIN TRADE
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