Francisco Gros, Morgan Stanley Dean Witter
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Francisco Gros, Morgan Stanley Dean Witter

Making up the rules in Brazil


"It's like putting on an old pair of slippers, it feels very comfortable," says Francisco Gros, describing his return to Brazil after five years in the US. "New York was a challenge, an adventure, but this is home."

Gros, who is chairman of Morgan Stanley do Brasil and a managing director of the worldwide firm, has made a career out of taking up challenges and adventures.

Twice he has served as Brazil's central bank governor - during his first stint the country declared a debt moratorium. He was president of the world's largest producer of eucalyptus pulp, Aracruz Celulose, played a leading role in creating Brazil's capital markets and along the way found time to work at Kidder Peabody, Unibanco and BNDES, the Brazilian development bank. Most recently he co-ordinated with government as his contribution to the Telebrás privatization mandate held jointly by Morgan Stanley, Salomon Smith Barney and Patrimônio.

"I have seldom taken a job because it was going to give me more money," says Gros, who is 56 and was born and now lives again in Rio de Janeiro. "I have taken them as a challenge and to learn something."


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