According to Bloomberg, HSBC anticipates its private banking operations in Brazil to increase assets under management by more than 50 percent in 2008. The cause... more foreigners seeking opportunities to invest, as more global investors than ever are willing to buy Brazilian assets. Assets under management by Brazilian banks are currently rising at a rate of more than 30% annually, Lywal Salles.
In other business news...
I would like to introduce this topic by saying that we were entertaining a colleague of my husband's last night who is in Rio for the first time and really hurting for a Starbucks coffee... I can't wait to tell him that Starbucks is planning an aggressive expansion in Brazil. Currently there are 10 Starbucks locations in Sao Paulo, by September there will be 15, and locations for Rio are in the works.
Its funny that ten years ago you couldnt get a decent cup of Joe here in Rio if your life depended on it. There are some good coffee places that have sprung up (Armazen de Cafe, Frans, etc)but I must admit,having a Starbucks here is kind of akin to selling snow to Canadians...rsrsrsrs
Posted by: Lisa the Canarioca | June 23, 2008 at 04:00 PM
I will definitely suggest some of those places to Mr. DRL and our visitors! I am not a coffee drinker myself so it makes it even harder for me to make recommendations. Thanks for the tip!!
Posted by: DRL | June 24, 2008 at 11:46 AM