Armínio Fraga Neto (born 20 July 1957, in
Rio de Janeiro
Rio de Janeiro ( , , ; literally 'River of January'), or simply Rio, is the capital of the state of the same name, Brazil's third-most populous state, and the second-most populous city in Brazil, after São Paulo. Listed by the GaWC as a b ...
) is a Brazilian economist who was president of the
Central Bank of Brazil
The Central Bank of Brazil ( pt, Banco Central do Brasil) is Brazil's central bank. It was established on Thursday, 31 December 1964, a New Year's Eve.
The bank is not linked to any ministry, currently being autonomous. Like other central banks, ...
from 1999 to 2003. From 1993 until his appointment to the Central Bank, he was Managing Director of Soros Fund Management in New York. Since 2001, he has been a member of the influential Washington-based financial advisory body, the
Group of Thirty
The Group of Thirty, often abbreviated to G30, is an international body of 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 sect ...
.
Education
Fraga received his PhD in economics from Princeton University in 1985.
Career
In 2003, he founded the
Rio de Janeiro
Rio de Janeiro ( , , ; literally 'River of January'), or simply Rio, is the capital of the state of the same name, Brazil's third-most populous state, and the second-most populous city in Brazil, after São Paulo. Listed by the GaWC as a b ...
based
investment company
An investment company is a financial institution principally engaged in holding, managing and investing securities. These companies in the United States are regulated by the U.S. Securities and Exchange Commission and must be registered under the ...
,
Gávea Investimentos
The Gávea Group comprises two investment management firms (Gávea Investimentos and Gávea Equity) and one distributor (Gávea DTVM). These are regulated by the Central Bank of Brazil, the Comissão de Valores Mobiliários - CVM (Brazil’s e ...
.
Fraga has been called the
Alan Greenspan
Alan Greenspan (born March 6, 1926) is an American economist who served as the 13th chairman of the Federal Reserve from 1987 to 2006. He works as a private adviser and provides consulting for firms through his company, Greenspan Associates LLC. ...
of Latin America for his skillful handling of Brazilian
monetary policy
Monetary policy is the policy adopted by the monetary authority of a nation to control either the interest rate payable for very short-term borrowing (borrowing by banks from each other to meet their short-term needs) or the money supply, often a ...
during his tenure as CBB president.
Fraga worked for both
Fernando Henrique Cardoso
Fernando Henrique Cardoso (; born 18 June 1931), also known by his initials FHC (), is a Brazilian sociologist, professor and politician who served as the 34th president of Brazil from 1 January 1995 to 31 December 2002. He was the first Brazi ...
governments.
In 2009, Fraga served on the High Level Commission on the Modernization of World Bank Group Governance, which – under the leadership of
Ernesto Zedillo
Ernesto Zedillo Ponce de León (; born 27 December 1951) is a Mexican economist and politician. He was 61st president of Mexico from 1 December 1994 to 30 November 2000, as the last of the uninterrupted 71-year line of Mexican presidents from t ...
– conducted an external review of the
World Bank Group
The World Bank Group (WBG) is a family of five international organizations that make leveraged loans to developing countries. It is the largest and best-known development bank in the world and an observer at the United Nations Development Grou ...
's governance.
In October 2010,
Gávea Investimentos
The Gávea Group comprises two investment management firms (Gávea Investimentos and Gávea Equity) and one distributor (Gávea DTVM). These are regulated by the Central Bank of Brazil, the Comissão de Valores Mobiliários - CVM (Brazil’s e ...
was acquired by
Highbridge Capital Management
Highbridge Capital Management, LLC is a multi-strategy alternative investment management firm founded by Glenn Dubin and Henry Swieca in 1992. In 2004, it was purchased by JPMorgan Chase; as of 2019, it had about $3.9 billion in assets under m ...
, a subsidiary of
J.P. Morgan Asset Management.
Other activities
Corporate boards
*
China Investment Corporation
China Investment Corporation (CIC) ( Chinese: 中国投资有限责任公司; pinyin: ''zhōngguó tóuzī yǒuxiàn zérèn gōngsī'') is a sovereign wealth fund that manages part of the People's Republic of China's foreign exchange reserves. ...
, member of the international advisory council (since 2009)
Non-profit organizations
*
Council on Foreign Relations
The Council on Foreign Relations (CFR) is an American think tank
A think tank, or policy institute, is a research institute that performs research and advocacy concerning topics such as social policy, political strategy, economics, mi ...
, member
*
Group of Thirty
The Group of Thirty, often abbreviated to G30, is an international body of 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 sect ...
(G30), member
*
Columbia Global Center Rio de Janeiro, member of the advisory board (since 2013)
*
Princeton University
Princeton University is a private university, private research university in Princeton, New Jersey. Founded in 1746 in Elizabeth, New Jersey, Elizabeth as the College of New Jersey, Princeton is the List of Colonial Colleges, fourth-oldest ins ...
, member of the board of trustees (2018–2019)
2018-2019 Board of Trustees
Princeton University
Princeton University is a private university, private research university in Princeton, New Jersey. Founded in 1746 in Elizabeth, New Jersey, Elizabeth as the College of New Jersey, Princeton is the List of Colonial Colleges, fourth-oldest ins ...
.
References
External links
Publications
at the National Bureau of Economic Research
The National Bureau of Economic Research (NBER) is an American private nonprofit research organization "committed to undertaking and disseminating unbiased economic research among public policymakers, business professionals, and the academic c ...
*
*
*
1957 births
Living people
Presidents of the Central Bank of Brazil
Brazilian economists
Group of Thirty
Pontifical Catholic University of Rio de Janeiro alumni
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