“Luck and bad luck will have “Luck and bad luck will have no influence on long-term no influence on long-term results, only dedication and results, only dedication and joint effort will.” joint effort will.”
Murilo Oliveira Head of Equities Brazil
Murilo Oliveira Head of Equities Brazil
It gives me great pleasure to write the first letter of 2025 to my team on the year I complete 20 years in my career,
twelve of them at SPX
When I was a teenager, working in the financial market never crossed my mind To be honest, my knowledge of career options that I could pursue was very limited seeing that I come from a simple family I’m the youngest of two children and education was always a priority for my parents who worked hard to give us good opportunities.
MESSAGE
I was always motivated by curiosity, by getting the best grades and being top of my class, and to be good at what I did. That’s what I focused my energies on I never gave much importance to sports when I was younger and it was only much later that I came to give recognise their importance in thigs like being healthy, promoting team spirit, cooperation and competitiveness. After long hours of study and few hours of sleep during my third year of high school, I managed to pass the ITA entrance exam It was a dream come true: to study at what, in my opinion, is the best engineering school in
Brazil.
This desire to always strive for the best is what brought me to the financial market. When I graduated, I worked in a large retail bank with more than forty thousand employees, but I began to realize that large organisations have a huge challenge in pinpointing those responsible for results. There are so many people involved in different areas of the business. Who would take credit for profitable new product? The team that came up with the idea, the team that implemented it or the team that sold it? In 2008, I decided to look for something different I needed to work somewhere where I felt I made a difference and was recognized for it I went to work at BBM during the 2008 financial crisis, which ultimately presented me good opportunities.
I joined SPX in 2013 as a partner and equity analyst on Leonardo Linhares’ team, with whom I had worked since 2009 I helped hire and train many people who still work here. In 2016, I became responsible for Long Only funds. As luck would have it, in the first year I caught Brazil’s first bull market after seven years The first year seemed easy, but the others weren’t. In 2020, after a difficult year for our department and our personal lives, I took on a big challenge: being responsible for the Brazil equities book in multimarket funds Putting together a team practically from scratch and changing the way we think and operate was an additional dose of encouragement for me The decision I made
years earlier had been the right one: meritocracy had worked not just for me, but for everyone around me.
We work in a highly competitive industry To stand out as a company and deliver excellent results consistently over the long term, we need to be a high-performance team. This means maintaining a team of talented people who do their utmost to deliver results, make fewer mistakes and win. Luck and bad luck will have no influence on long-term results, only dedication and joint effort will. Great athletes don’t win on talent alone, they sweat, they work hard, they push themselves to the limit and they train hard to get to the top and stay there
My advice to the younger generation is to always strive to be the best at what you do, be dedicated: you have enough time ahead. We’re in it to win!
by HR
In December, we held another edition of Meeting the Partners over breakfast at the Rio de Janeiro office. The event was hosted by Rogério Xavier and was attended by 11 employees. It was an excellent opportunity for everyone to share experiences and enjoy a moment of integration and relaxation
by HR
We welcomed students from UFRJ to our Rio de Janeiro office as part of our initiative to strengthen our employer brand. The visit was led by Pedro Freire and Samylly Zanini from the Investor Relations department, Fernando Tinoco from the Credit department, and Pedro Daltro from the Real Estate department.
These meetings not only gave students a deeper understanding of SPX but also provided a platform for discussing career opportunities and answering questions related to the labor market.
by HR
The 2024 edition of Town Hall was led by the Board, consisting of Bruno Marangoni, Bruno Pandolfi, Daniel Schneider, Leonardo Linhares, Marcelo Castro, and Rogério Xavier, and moderated by Paula Ronchi The event covered various topics, including a retrospective of 2024, the main achievements of the year, and the outlook for 2025.
To ensure equal access to information, this year’s Town Hall was conducted in Portuguese, with live simultaneous translation into English, ensuring an inclusive experience for all participants.
The recordings, in both Portuguese and English, are available on our intranet
by IR
Fernando Borges, Director and Head of Private Equity at SPX, took part in the 15th Annual Private Equity Latin America Forum, promoted by Markets Group and held in São Paulo on the 9th and 10th of December. The event brought together more than 500 investors, fund managers and consultants for two days of enriching debates on the future of investments in the region, addressing opportunities and strategies for
the private equity market in Latin America
During his participation, Fernando contributed with valuable insights into the importance of local knowledge for successful investments, sharing his experience alongside other renowned experts in the sector.
In December, our offices in Brazil, London, New York, and Singapore celebrated the end of the year.
The Brazilian celebration took place at Gávea Golf & Country Club in Rio de Janeiro and was attended by employees from Rio de Janeiro, São Paulo, New York, and London The event featured drinks, cocktails, dinner, and a live band that added to the lively atmosphere
Similar celebrations were held in London, New York, and Singapore at The Maine by HR
Mayfair, Zuma, and Sushisamba restaurants, respectively.
These gatherings provided an excellent opportunity for employees to celebrate the year’s achievements and strengthen connections across teams.
by HR
At the end of 2024, we began our Performance Evaluation process, which included significant changes in this cycle:
New stages introduced: Department Evaluation, Interface Evaluation, and Head Evaluation.
Employees were divided into two models based on the nature of activities within their departments
These changes were implemented to gain a deeper understanding of each employee’s skills and competencies, providing more relevant feedback to contribute directly to professional development.
We would like to remind you that the feedback stage will take place between January 20th and 31st, marking the final step in our evaluation process. This phase is crucial for promoting continuous development, strengthening communication between leaders and teams, and aligning expectations for the next cycle.
HR has made available a "Performance Review Appraisal Guide" on the intranet, which contains guidelines and tips to help you conduct these conversations. You can find the primer under: Useful Information > HR and Administrative > Performance Review.
Thank you for your commitment to this process!
by IR
1.
Further to the announcement made previously, we would like to inform that, following the fulfilment of the preceding conditions, the sale of SYN Prop & Tech’s stake in SPX SYN Participações S A (currently called SPX RE Participações S.A.) to SPX Capital Holding has been completed, thus ending the joint venture formed in 2021 between SPX and SYN. As such, as of 20 December 2024, SPX Capital Holding became the sole partner, indirectly, of the fund management company currently called SPX Real Estate Gestão de Recursos Ltda (previously the object of the JV). We emphasize that there will be no change whatsoever in the funds’ strategy or in the real estate management team of SPX Real Estate
5.
FII SPXS11 distributed dividends of BRL
0.100/share for November/24 (Dividend Yield: 1.10% p.m. or 14.20% p.a. – DY calculated using the closing price on 29/11) According to the Management Report released, the fund’s cash is currently fully committed to new tranches of CRIs to complete the work, which should be paid up over the next few months
Click here to read the Report.
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