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Ricardo Nunes of Brazil's Monex: riding the offshore wave

Ricardo Nunes of Brazil's Monex: riding the offshore wave

Ricardo Nunes of Brazil’s Monex Financial Consulting tells us about being among the first to join the offshore wave that hit his country almost 10 years ago. The Rio de Janiero native also reveals the best spots to visit in the Carnival City.

What was your first-ever job?

My first job was when I was 16 years old. I worked as a bank office boy at a special bank branch that used to hold large checking accounts.

My duty was to deliver account statements of the previous day to six big companies.

Why did you choose a career in finance?

It was a matter of opportunity. In 2005, I sold the very first company I founded, an IT company. I then moved to New York and learnt a lot about American and global financial markets.

In 2007, Brazil opened up its market to give people the opportunity to apply their resources offshore. I realized this could be a great chance, as offshore investing was brand new for most people and it made sense for large, wealthy families to make use of it to protect their wealth.

It was from there that I specialized in the market and began to service these large families.

If you weren’t working in the finance industry, what would you be doing?

Psychologist. I just love people, psychology and its transforming power. I find it incredible how people can change their beliefs, fears and attitudes towards life by evaluating and understanding what made them think in a different way.

What are your clients most concerned about?

I try to make them aware of the average risk they face when holding a local Brazilian company as our country has an unstable economy and political outlook.

The biggest risk is that the rules can be changed at any time and problems with their companies can affect their families’ wealth. Another fear is the vulnerability of the Brazilian economy in the face of local and global events.

What is your favorite book?

When Nietzsche Wept by Irvin D. Yalom. It is a book that mixes fiction and reality and is about a supposed relationship (that never existed) between historical characters Josef Breuer, Sigmund Freud and the philosopher Friedrich Nietzsche.

What do you like to do outside of work?

I love gastronomy, cinema and sports. When visiting a city, I plan all the restaurants I want to go.

I also love European cinema, especially French cinema. As I live in Rio de Janeiro and pretty close to the beach, I prefer outdoor sports like beach volleyball, beach tennis and cycling. I also like soccer and tennis.

What are the best places to visit in Rio de Janeiro?

Ipanema and Leblon beaches are great spots as well as the bars and restaurants located at Dias Ferreira Street in Leblon and its surroundings. Downtown was recently restored for the Olympics and is unmissable. For those who like sport, my advice is to rent a good bicycle and ride it through the many bike lanes Rio has to offer. Rio is ranked sixth in the world for the number of bikes lanes it has, which total about 300 miles.

This article was originally published in the February issue of Citywire Americas. To sign up to receive our free magazine, follow this link.

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