A reveller at this year’s Rio carnival parade
There is a nervous excitement apparent when talking to Brazil’s private bankers these days. Depending on whom you are talking to – and the bank they represent – the mixture might be more excitement than nerves, or it might be the reverse.
Bankers are responding to the shifting ground of their industry. This has been long anticipated but now it is finally here and clients have noticed. They are no longer satisfied with the returns on offer from stuffing their portfolios full of government bonds.
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