Partners

Diretora Presidente da Tendências, possui graduação em Economia pela Universidade de São Paulo (1976) e doutorado em Economia (1983) e Livre-Docência (1996) pela mesma Universidade. Foi professora titular da Faculdade de Economia, Administração e Contábeis da Universidade de São Paulo, Chefe do Departamento de Economia da USP (de 2002 a 2004), Presidente do Conselho Administrativo de Defesa Econômica (CADE) (de 2004 a 2008) e Diretora Presidente da União da Indústria da Cana-de-Açúcar (UNICA) (de 2012 a 2019).

ELIZABETH FARINA

Tendências' Chief Executive Officer. B.A. in economics, University of São Paulo (USP, 1976); Ph.D. in economics, University of São Paulo (USP, 1983); and full professorship at the same university (1996). Ms. Farina was a full professor at the University of São Paulo School of Economics, Business Administration and Accounting, chair of that university's economics department (2002-2004), president of the Administrative Council for Economic Defense (2004-2009), and CEO of the Sugarcane Industry Association (Unica) (2012-2019).

GUSTAVO LOYOLA

Ph.D. in economics, Getúlio Vargas Foundation School of Economics and Finance (EPGE-FGV). Mr. Loyola served as president of the Brazilian Central Bank on two occasions (1992-1993 and 1995-1997). He sits on the executive boards of several companies and, in 2014, was named “Economist of the Year” by the Brazilian Association of Economists.

NATHAN BLANCHE

A financial market executive, Mr. Blanche headed the National Gold and Exchange Rate Association (ANORO). He dedicated himself to regulating and developing the gold and exchange rate markets, including futures markets, and went on to become one of Tendências' founding partners.

ERNESTO M. GUEDES FILHO

Graduate degree, Institute of Economic Research Foundation (Fipe-USP); B.A. in economics, University of São Paulo (FEA-USP). Mr. Guedes Filho has served as economic advisor to the Ministry of Planning, the Treasury Secretary's office, and the Minister of Finance's office. An economic consultant since 1990, he currently heads Tendências' on-demand studies and projects department.

DENISE DE PASQUAL

M.B.A, Getúlio Vargas Foundation (FGV-SP); Graduate degree in financial sector economics, Institute of Economic Research Foundation (Fipe-USP); B.A. in economics, University of São Paulo (FEA-USP). Between 1992 and 1994, she worked as a researcher at Fipe and Instituto Educar São Paulo (Iesp). Ms. Pasqual is Tendências’ Sales Director.

MAILSON DA NÓBREGA

A trained economist, Mr. da Nóbrega was Brazil’s Finance Minister from 1988 through 1990, after a long career at state-owned bank Banco do Brasil and in the public sector. While in the government, Mr. Nobrega chaired the Monetary Council and the National Council for Financial Policy (Confaz), in addition to sitting on the boards of the IMF, the World Bank, and the IDB. Today, he sits on corporate advisory boards in Brazil and abroad and writes a column for Veja magazine. With six published books to his credit, in 2013, he was named "Economist of the Year" by the Brazilian bar association (OAB).

ALESSANDRA RIBEIRO

M.A. in economics and finance, Fundação Getúlio Vargas (FGV); B.A. in Economics, University of Campinas (Unicamp). Ms. Ribeiro has worked as a market analyst at BM&FBovespa and as head of international economy and financial market analyses at Tendências. She is currently the Director of our macroeconomics and politics department.

CAMILA SAITO

M.A. in Economics, Getúlio Vargas Foundation (FGV-SP); B.A. in Economics, University of São Paulo (FEA-USP). Ms. Saito has over eight years of economic consulting experience. She coordinates Tendências' special projects on economic scenarios by region and income level.

FREDERICO ESTRELLA VALLADARES

M.A., Getúlio Vargas Foundation Rio de Janeiro (FGV-RJ); Graduate degree in business administration, Dom Cabral Foundation; B.A. in economics, Federal University of Minas Gerais (UFMG). Before joining Tendências, Mr. Valladares worked as a planning analyst at Samarco Mineração. He is the Director of our corporate finance department.

RAFAEL CORTEZ

Ph.D. in political science, University of São Paulo (USP). An undergraduate professor, Dr. Cortez specializes in Brazilian institutions, comparative politics, and political economy. He is the head of Tendências’ political analysis department.

FABIANA TITO

Ph.D. in economics, University of São Paulo (FEA-USP); M.A. in competition and market regulation analysis, Pompeu Fabra University and Autonomous University of Barcelona (Spain); B.A. in economics, University of São Paulo (FEA-USP); Graduate degree in economic law, Getúlio Vargas Foundation (FGV-SP). Between 2004 and 2007, Ms. Tito served as General Coordinator to the Ministry of Justice’s Economic Law Department (SDE) in Brazil. Her experience includes working for international antitrust consulting firms and a stint at the UK Competition Commission in 2009. A partner at Tendências, she is also an advisor to the Brazilian Institute for Studies in Competition, Consumer Spending, and International Trade (Ibrac) and has been recognized as a Consulting Expert by British publication Who’sWho Legal.

ERIC UNIVERSO RODRIGUES BRASIL

Ph.D. and M.A. in economic theory, University of São Paulo (FEA-USP); B.A. in economic science, Álvares Penteado Foundation Trade School (FECAP). Mr. Brasil is a microeconomics and quantitative methods professor and researcher at FECAP. He was a member of the Board of Directors of Brazilian pharmaceutical group Ultrafarma. A partner at Tendências, he has over ten years of experience developing economic and financial studies, projects, and expert opinion pieces.

WALTER DE VITTO

Walter de Vitto: M.A. in economics, University of São Paulo (FEA-USP); B.A. in business administration, Getúlio Vargas Foundation (FGV-SP). Mr. de Vitto has worked in both the public (ARTESP) and the private sector (Banco Votorantim). At Tendências, he coordinates special projects on supply chain business intelligence and is the head of electric energy, and oil, gas & oil products.

SILVIO CAMPOS NETO

M.A. in economics, Getúlio Vargas Foundation (FGV); B.A. in economics, University of São Paulo (FEA-USP). Mr. Campos Neto has served as chief economist at Banco Schahin and currently teaches macroeconomics at Faculdades Oswaldo Cruz. A senior economist at Tendências since 2011, he is the head of financial markets and international economy.

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