Vivian Lee is partner, portfolio manager and credit strategies co-CIO at Ibiuna Investimentos since 2020. From 2013 to 2020, she was a research analyst and co-portfolio manager of credit funds at Itau Asset Management (BRL 220 billion under management), where she played an active role in structuring private placement deals that amounted to BRL 20 billion over the years. Between 2007 and 2013, Vivian worked at Itaú BBA, where she started out coordinating the credit modeling area (2007-2010) and then joined the credit analysis team (2010-2013). From 2002 to 2007, she worked at Banco Santander’s products department, having participated in the launch of new products and structured transactions for the corporate segment. Vivian started her career at BankBoston in 2000 in the Credit and Capital Markets area (specialized industries). She holds a Business Administration degree from FGV, a Graduate degree in Banking from Fundação Dom Cabral, a Master’s degree in Finance from Insper and the CFA and CGA certifications.

Eduardo Alhadeff is partner, portfolio manager and credit strategies co-CIO at Ibiuna Investimentos since 2020. From 2011 to 2020, he was a senior portfolio manager at J.P. Morgan Asset Management. Between 2012 and 2020, Eduardo was based in London where he was responsible for global emerging markets corporate debt funds, with more than USD 10 billion under management. Between 2011 and 2012, he was based in São Paulo, where he was responsible for the local credit funds. From 2005 to 2010, Eduardo was a partner at BRZ Investimentos, initially as a fixed income portfolio manager for the hedge funds and, as of 2007, as portfolio manager of credit funds and responsible for structuring receivables funds. Prior to this, between 2002 and 2007, he was a rates trader at J.P. Morgan’s treasury department, in São Paulo. Eduardo holds a Business Administration degree from FGV and an Executive MBA degree in Finance from Ibmec/Insper.

Victor Rupolo is associate partner and credit analyst at Ibiuna Investimentos since 2020. Between 2013 and 2020, he worked at Itaú Asset Management as a research analyst and co-portfolio manager for the credit funds desk (R$ 200bn under management in March/20). For 7 years he had an active participation in BRL 35 bn of private placement deals and private bonds acquisitions. From 2017 to 2020, he was Head of Research responsible for Infrastructure, Industrials, Transportation & Telecom sectors. Victor is a CGA certified professional and holds a Bachelor’s degree in Business Administration Sciences from Insper.

Thalita Gondek is credit analyst at Ibiuna Investimentos since 2021. From 2019 to 2021 she worked as a credit research analyst at Itaú Asset Management, covering operations in the financial sector and structuring of FIDCs. From 2015 to 2018, worked at Citibank, where she started as a Corporate Bank trainee and was hired in the credit area, being responsible for the credit analysis of financial institutions in Brazil and Latin America. Thalita holds the CFA and CGA certifications and a Bachelor’s degree in Chemical Engineering from UNICAMP.

Victor Porto is a credit analyst at Ibiuna Investimentos since 2021. Previously, he worked at Fator. Victor holds bachelor's degree in Business Administration from the University of São Paulo (FEA-USP).

Carolina Macena is credit intern at Ibiuna Investimentos since 2022. Previously, she worked at J Safra Asset Management. She is currently pursuing a degree in Economics at University of São Paulo (FEA-USP).

Samuel Almeida is credit intern at Ibiuna Investimentos since 2023. Previously, he had experiences at Fitch Ratings and Opea Capital. He is currently pursuing a degree in Business Administration at Insper.

Mário Torós is founding partner, portfolio manager and macro strategies co-CIO at Ibiuna Investimentos since 2010. From 2007 to 2009, he was Deputy Governor for Monetary Policy for the Central Bank of Brazil. Mário worked at Banco Santander between 1992 and 2006, having held the positions of Head of Emerging Markets in London (1997 and 1998) and Executive Director of Santander in Brazil, responsible for the Treasury and Markets (1999 to 2006), among other functions. Mário holds a Master’s degree from COPPEAD/UFRJ and a Bachelor’s degree in Economic Sciences from the Federal University of Rio de Janeiro.

Rodrigo R. Azevedo is founding partner, portfolio manager and macro strategies co-CIO at Ibiuna Investimentos since 2010. Rodrigo was a Deputy Governor for Monetary Policy for the Central Bank of Brazil between 2004 and 2007, when he was a voting member of the Monetary Policy Committee (COPOM), and had as executive functions the responsibility for financial markets overview, FX and open market desks, management of International reserves, and the Brazilian Payments System among other roles. Rodrigo was also a member of ANBIMA’s (Brazilian Financial and Capital Markets Association) board of directors for 4 years (2009-2012). Prior to that, he was a partner at JGP Gestão de Recursos, managing director and chief economist at Credit Suisse First Boston and senior economist at Banco Garantia. He holds a Ph.D. and M.Sc. in economics from the University of Illinois at Urbana-Champaign (USA) and a Bachelor degree in economics from the University of São Paulo (FEA-USP).

Marcelo Covo is partner and macro funds portfolio manager at Ibiuna Investimentos since 2010. Between 2009 and 2010, he was fixed income portfolio manager responsible for inflation, interest rate options and dollar options at Itaú-Unibanco Asset Management. In 2008 and 2009, Marcelo was fixed income portfolio manager for Itaú’s exclusive funds, being responsible for rates strategies. He holds a Master’s degree in Economics and Finance from EPGE/FGV and a Bachelor’s degree in Economic Sciences from IBMEC-RJ.

Rodrigo Storti is partner and macro funds portfolio manager at Ibiuna Investimentos since 2010. Between 1999 and 2007, he worked at Banco Santander, where he was responsible for the external debt, credit derivatives, currencies and international fixed income proprietary books. Rodrigo moved to London in 2007 to be Latin America’s market making head at Lehman Brothers. He then became responsible for fixed income and FX market making at Standard Chartered until 2009, when he returned to Banco Santander to head the FX proprietary desk, before founding Ibiuna Investimentos. Rodrigo holds a Bachelor’s degree in Production Engineering from the University of São Paulo’s Polytechnic School (USP-Poly).

José Luis Oliveira is partner and macro funds portfolio manager at Ibiuna Investimentos since 2015. Between 2013 and 2015, he was Portfolio Manager focused in Brazil (Rates and FX) at BlueCrest Capital Management. From 2010 to 2013, José was director of Deutsche Bank’s Fixed-Income proprietary desk, responsible for the Local Fixed Income books (rates and inflation). From 2005 to 2007 and from 2009 to 2010, he was a senior trader on the local fixed income desk at Itaú Unibanco. From 2007 to 2009 and from 2001 to 2005, José was the head of the local fixed-Income desk, responsible for the rates and inflation books at Unibanco. José holds an MBA in Derivatives from BM&F/USP and Bachelor’s degrees in Business Administration from EAESP/FGV and Economics from the University of São Paulo (FEA -USP).

Rodolfo Barreto is partner and macro funds portfolio manager at Ibiuna Investimentos since 2016. Between 2010 and 2016, he was a macro portfolio manager at BTG Pactual, responsible for the Latin America (ex-Brazil) books. From 2006 to 2010, Rodolfo was macro portfolio manager and chief economist at 3G Capital in New York, co-responsible for global macro portfolio management and also participated in the equities allocation committee. In 2005 and 2006, he was vice-president of Citigroup London where he was the strategist responsible for emerging markets. From 2001 to 2005, Rodolfo was an economist at JGP, focusing on U.S., Japan and European markets. He holds a Master’s degree in Mathematical Methods applied to Finance from Instituto de Matemática Pura e Aplicada (RJ) and a Bachelor’s degree in Economics from Stanford University.

Noman Khan is partner and macro funds portfolio manager at Ibiuna Investimentos since 2022. He was manager of the global macro strategy at O3 Capital, from 2021 to 2022, focused on the United States, Europe, United Kingdom and China. Between 2010 and 2021, Noman worked for Verde Asset Management with global macro analysis, portfolio management and trading and other international strategies of the company, mainly dedicated to developed and Asian countries. From 2008 to 2010, he worked as a trader at Credit Suisse Hedging Griffo's fixed income and multimarket low vol funds, accumulating experience in local macro assets and specializing in Brazilian options market. In 2007, he worked at the interest and foreign exchange derivatives trading desk also at CSHG. He holds a bachelor's degree in Mechanical Engineering from Unicamp.

Alysson Lima is partner and macro funds portfolio manager at Ibiuna Investimentos since 2020. In 2019, he was FX portfolio manager at BlueLine Asset Management. From 2007 to 2019, he was a trader on the FX and market-making proprietary desks of Banco Santander, having started his career in the bank’s Finance department. Alysson holds a Master’s degree in Economics and Finance from FGV-SP and a Bachelor’s degree in Electronics Engineering from Instituto Tecnológico de Aeronáutica – ITA.

Raul Lessa is partner and macro funds portfolio manager at Ibiuna Investimentos since 2021. Between 2019 e 2021, he was a macro portfolio manager at Itaú Asset Management. From 2010 to 2018, he was responsible for the FX books at Banco Santander’s propreitary trading desk. Between 2004 and 2010, worked for the FX trading desk at Banco Itaú BBA. He holds a Master´s degree in Finance from IBMEC-SP and a Bachelor´s degree in Business Administration from FGV.

Ricardo Novaes has been a partner and macro fund manager at Ibiuna Investimentos since 2023. From 2021 to 2023 he was a partner and macro portfolio manager at Upon Global Capital. Between 2017 and 2020 he was a partner and macro portfolio manager at Kapitalo Investimentos, responsible for the K10 strategy. From 2016 to 2017 he was Director and manager of Vinci Capital. He was a partner and macro manager at Kadima Investimentos from 2012 to 2016. He worked at Brookfield, a group he joined as a trainee and became a partner responsible for macro portfolio management from 1998 to 2012. He holds a Master's Degree in Economics and Finance from EPGE/FGV and a degree in Administration of Companies by PUC-RJ.

Franklin Lima is associate partner and quantitative analyst at Ibiuna Investimentos since 2019. From 2007 to 2018, he worked at Gávea Investimentos, where he as an FX and rates trader, responsible for macroeconomic quantitative analysis. In the same institution, he worked as co-manager of the quantitative fund and also quantitative equities analyst, supporting the management of stock index portfolios. Between 2006 and 2007, Franklin was a market risk analyst at BNY Mellon. Franklin holds a Master’s degree in Mathematical Methods applied to Finance from IMPA and a Bachelor’s degree in Telecommunications Engineering from IME.

Martim Mesquita is partner and market analyst at Ibiuna Investimentos, where we worked as an economist from 2015 until 2019. In 2012, he worked as an economist at Teorema Gestão de Ativos. Martim holds a master's degree in Economics from FGV and a degree in Economic Sciences from Insper.

Erison Souza, CFA is associate partner and macro funds portfolio manager at Ibiuna Investimentos since 2021, where he is responsible for the private pension mandates. Between 2015 and 2021, worked as portfolio manager for the private pension strategies at Safra Asset Management. From 2012 to 2015, joined the macro portfolio management team at Safra Asset Management as fixed income trader. Between 2009 and 2012, worked for the finance department at Banco Safra de Investimentos. Erison is a Chartered Financial Analyst (CFA) and holds a degree in Control and Automation Engineering from the University of São Paulo’s Polytechnic School (USP-SP).

Marcus Martins Almeida is associate partner and market analyst for the macro funds area at Ibiuna Investimentos since 2018. Previously, worked at BTG Pactual. Marcus holds a Bachelor´s degree in Mathematics and Statistics from Columbia University (NY).

Lucas Mestres Mendes is a market analyst for the macro funds area at Ibiuna Investimentos since 2019, having also worked in the company´s risk area in 2017 and 2018. Previously, worked for companies such as Ambev, Monsanto and Impacto. Lucas is a certified Financial Risk Manager and holds a Bachelor´s degree in Civil Engineering from Technological Institute of Aeronautics (ITA).

Gabriel Baptista da Silva is associate and quantitative analyst at Ibiuna Investimentos since 2022. He worked at XP Inc between 2021 and 2022, as a high-frequency market maker for BMF assets and then as a trader on the volatility desk. Previously, he worked in the market risk area at Gávea Investimentos between 2015 and 2017 and between 2008 and 2013. He holds a Ph.D. in Mathematics from the University of Groningen and Master in Pure Mathematics from IMPA. He graduated in Computer Engineering from UFRJ.

Elisa Carvalho is quantitative analyst at Ibiuna Investimentos since May 2022. She holds a bachelor's degree in Molecular Sciences from the University of São Paulo.

Tales Rabelo is partner and economist at Ibiuna Investimentos since 2015. Between 2004 and 2013, he was an economist at Credit Suisse focused on Brazil. In 2013 and 2014, Tales worked in the credit structuring department at the same bank. He holds a Bachelor’s degree in Economic Sciences from the University of São Paulo (FEA -USP).

Paulo Motula is associate partner and economist at Ibiuna Investimentos since 2018. Between 2014 and 2017, he was an economist at SPX Capital. In 2013 and 2014, Paulo was a data analyst at Behavior Capital. He holds a Bachelor’s degree in Economic Sciences from the Federal University of Rio Grande do Sul (UFRGS) and a Master’s degree in Economics from FGV/EPGE.

Rodrigo Arruda is an economist at Ibiuna Investimentos since 2020. Previously, he worked as an economist at Mauá Capital. He holds a Master's degree in Economics and a Bachelor´s degree in Economic Sciences, both from Insper.

João Almeida is an economist at Ibiuna Investimentos since June 2022. He worked as an economist, from 2015 to 2020, in the research department at Morgan Stanley in London covering European economies. From 2020 to 2022, he was an economist at BTG Pactual's treasury in São Paulo, focused on Europe and China. He holds a master's degree in Economics from LUISS Guido Carli (Italy) and a master's degree in Finance from Universidade Nova de Lisboa (Portugal). He has a degree in Economics from the University of Aveiro (Portugal).

Gabriel Bello Taborda is associate partner and economist at Ibiuna Investimentos since 2019. Previously, he worked at Garos Capital. Gabriel holds a Bachelor´s degree in Economics from Insper.

Leonardo Silva is an associate and economist at Ibiuna Investimentos since 2024. With more than 10 years of experience in the financial market, he worked at Credit Suisse (Brazil) for 11 years, having been chief economist from 2018 to 2020 and senior economist from 2010 to 2017. He worked as a quantitative analyst at Clave Capital between 2023 and 2024. He holds a master's degree in quantitative finance from the University of Chicago and a Ph.D. in economics from EPGE (Fundação Getúlio Vargas).

Thiago Siniscarchio is macro funds market analyst at Ibiuna Investimentos since 2022. Previously, he worked at BNP Paribas Asset Management and Santander. He holds a degree in Business Administration from the University of São Paulo (FEA-USP).

Gabriel Braga  is macro funds market analyst at Ibiuna Investimentos since 2024. Previously, he worked at Garde Asset Management and Asa Investments. He holds a degree in Economics from Insper.

Augusto Netto is an intern for the economic area at Ibiuna Investimentos since 2021. He holds a degree in Economic Sciences from Insper.

Rafael Andrade is an economist at Ibiuna Investimentos since 2022. He holds a degree in Economics from Insper.

Carlos A. Saldanha is partner and CFOO, responsible for operations, risk, compliance and technology at Ibiuna Investimentos since 2010. From 2009 to 2010, he was finance director at Banco Votorantim (including BV Financeira) responsible for MIS, Budget & Planning, Accounting & Regulatory, Taxes, IR and ALM. In 2008 and 2009, Carlos was founding partner, COO and CFO of Fram Capital. Between 1999 and 2008, he worked at Banco Santander as executive director, CFO of the Wholesale Bank and Deputy CFO for the Brazilian operation. He was also responsible for Asset and Liability Management (AML), investor relations and strategic planning. Carlos holds an MBA in Finance from Insper and a Bachelor’s degree in Economic Sciences from Universidade Mackenzie-SP.

Mikhail Said de Castro is the partner responsible for the Risk area at Ibiuna Investimentos and has been part of the team since 2012. Previously, he worked at AC2 Investimentos. Mikhail is a certified Financial Risk Manager (FRM) and holds a Bachelor’s degree in Civil-Aeronautics Engineering from ITA.

Marcos Brigante is associate partner and responsible for the Technology department at Ibiuna Investimentos and has been part of the team since 2013. Between 2008 and 2013, he was a systems analyst at Itaú Unibanco. In 2007 and 2008, Marcos worked as a systems analyst at Rabobank. From 2006 to 2007, he was a junior programming analyst at Senior Solution. Marcos holds a Bachelor’s degree in Electrical Engineering from the University of São Paulo.

Rebeca Soares Lopes is associate partner and risk analyst at Ibiuna Investimentos since 2019. During her undergraduate studies, she did summer internships at Ambev and Stone Payments, and later, she was an intern at M Square Investimentos’ investment team. Rebeca holds a Bachelor´s degree in Civil Engineering - Aeronautics from ITA.

Carlos Del Busso is a risk analyst and has been at Ibiuna Investimentos since 2017. Between 2011 and 2017, he worked at Banco Bradesco in the Controller and International Custody area. He holds a degree in Business Administration from Universidade Mackenzie-SP, a postgraduate degree in Economics and Finance from FGV/EESP and a master's degree in Economics with an emphasis on Financial Macroeconomics from FGV/EESP.

Thalita S. Pizzi Gentille is compliance officer at Ibiuna Investimentos since 2019, having also worked in the company's back-office department between 2017 and 2018. For 11 years she worked as an operations and contract analyst (ISDA / GMRA), in the foreign exchange and treasury departments of Banco Bradesco. Thalita has a Bachelor´s degree in Business Administration, and a Postgraduate degree in International Business from Mackenzie University -SP.

Samuel Ribeiro Silva is responsible for the Back-office at Ibiuna Investimentos and has been part of the team since 2020. Previously, he worked at Banco BNP Paribas. Samuel holds Bachelor´s degrees in Production Engineering and also Science and Technology, both from the Federal University of ABC.

Iuri Senatore is a back-office analyst at Ibiuna Investimentos since 2021. Previously, he worked at Banco Bradesco. He holds a Bachelor´s degree in Accounting from the Federal University of São Paulo.

Lucca Nazari is an Operations analyst at Ibiuna Investimentos since 2023. Previously, he worked at Goldman Sachs. He holds a Bachelor´s degree in Mechatronics Engineering from Insper.

Freddy Dratwa is an Operations analyst at Ibiuna Investimentos since 2024. Previously, he worked at Safra Asset Management. He holds a Bachelor's degree in Mechatronics Engineering from Insper.

Danilo Costa is a technology analyst at Ibiuna Investimentos since 2010. Previously, he worked at Vivo Telecomunicações. He holds a Bachelor´s degree in Computer Engineering from Centro Universitário Sant’Anna.

Leandro Piroupo is an IT analyst at Ibiuna Investimentos since 2020. Previously, he worked for Banco Daycoval, Senior Solution and Astrein. He holds a Bachelor´s degree in Computer Science from Universidade Paulista (UNIP).

Vitor Silva is an IT analyst since 2020, having also worked in the administrative department from 2014 to 2019. He holds a Bachelor´s degree in Civil Engineering from São Judas Tadeu University.

Gustavo Barska is an IT analyst at Ibiuna Investimentos since 2021. Previously, he worked at Itaú Unibanco and worked for companies such as Ih, Aprendi !, Sun Pharma, TV Alphaville, Capgemini, End2End Technologies and Bit-Tec Tecnologia. He holds a Bachelor´s degree in Computer Engineering from Faculdade Anhanguera.

Lucas Machado is a technology analyst at Ibiuna Investimentos since 2022. Previously, he was an intern in the company's economics area. He holds a degree in Economic Sciences from Insper.

Gabriel Moraes is technology analyst at Ibiuna Investimentos since 2022. Previously, between 2019 and 2022, he worked at MLegate. He holds a degree in Information Systems from the University of São Paulo (USP).

Lucas Dantas is information security administrator at Ibiuna Investimentos since 2022. Previously, he worked at SulAmérica and worked for companies such as TecBan and Avaya. He holds a degree in Computer Engineering from the São Paulo School of Informatics and Administration (FIAP).

Vinicius Martinetto Rinco is an information technology analyst at Ibiuna Investimentos since 2022. Previously, he worked at Yara Brasil and worked for companies such as Jaguar Land Rover. He holds a degree in IT Management from the Faculdade de Informática e Administração Paulista (FIAP) and a post-graduate degree in Information Security from Senac.

Guilherme G. Nicolau, Head of AI and Data Product Manager at Ibiuna Investimentos since 2023, is a specialist in Data Science and Artificial Intelligence, focusing on language models (LLM). Doctor and master in Political Science from USP and MBA in Artificial Intelligence from the Institute of Mathematical and Computer Sciences at USP (ICMC-USP), he also has a specialization in IT Management (Estacio) and academic experiences at the University of Buenos Aires (UBA ) and at the Faculty of Economics of the University of Coimbra (FEUC). At Americanas S.A., he improved search engines, and at Comgás, he served as an internal consultant, leading the development of data products and B2B technical solutions, driving analytical decisions in the Strategic Intelligence Center (NIE). At Ibiuna Investimentos, he leads the transformation to a Data-Driven culture, generating strategic insights and establishing data governance standards.

Alexandre Alves is a technology analyst in the technology area at Ibiuna Investimentos since 2024. Previously, he worked as a machine learning engineer at companies such as IBM, Avanade and Aon. He holds a degree in information systems from Universidade Nove de Julho (Uninove) and a postgraduate degree in Systems for artificial intelligence (MBA) from Fundação Instituto de Administração (FIA Business School).

Silvia Morota is office manager at Ibiuna Investimentos since 2010. Silvia holds a Bachelor´s degree in Office Automation and Secretariat from the Faculdade de Tecnologia de São Paulo (FATEC).

Juliana Sarti is analyst at Ibiuna Investimentos’ administrative department since 2021. Previously, she worked in financial institutions such as HSBC and Bradesco. Juliana holds Bachelor’s degrees in Languages (Portuguese and English) from the University of São Paulo and Office and Secretarial Automation from FATEC-SP.

Fernanda Nascimento has been part of the team of analysts in the administrative area of ​​Ibiuna Investimentos since June 2022. She has worked at companies such as: Vivo, Volkswagen, Itaú-Unibanco and Lide – Grupo de Líderes Empresariais. She is an Executive Secretary graduated from Fatec SP.

Kaique Lopes is an administrative assistant at Ibiuna Investimentos since 2022.

Caio M. A. Santos is partner and head of the Investor Relations and Products department at Ibiuna Investimentos since 2010. From 1997 to 2001, he was responsible for the Funds of Funds area at Lloyds Private Bank, one of the first banks in the local market to invest in third-party products. Between 2001 and 2006, Caio was investment strategist and responsible for the Funds of Funds area at Bank Boston Wealth Management, working out of the São Paulo and Miami offices. In 2006, he was hired by Citibank to structure the Funds of Funds area, which he headed until 2008. In 2009, Caio joined BlackRock, where he was responsible for the development of ETFs iShares in Brazil with Family Offices and Private Banks. He is a Chartered Alternative Investment Analyst (CAIA), holds an MBA in Finance from Insper and a Bachelor’s degree in Economic Sciences from Fundação Armando Álvares Penteado (FAAP-SP).

João Paulo De Toledo, is partner in the Investor Relations and Products area of Ibiuna Investimentos since 2010. He worked at Blackrock, in São Paulo, as an analyst of the ETFs iShares Portfolio Management and Trading Support desk. João Paulo is a Chartered Financial Analyst (CFA) and holds a Bachelor’s degree in Business Administration from Pontifícia Universidade Católica de São Paulo (PUC-SP).

Victoria Guzzo Caporal is an investor relations and products analyst at Ibiuna Investimentos since 2020. Previously, she worked at J.P.Morgan. Victoria holds a Bachelor´s degree in Business Administration from the University of São Paulo (FEA-USP).

Carolina Kinter Delatim is investor relations and products analyst at Ibiuna Investimentos since 2023, after having worked in the back-office department in 2022. Previously, she worked at Azimut Brasil and Bradesco Asset Management. Carolina holds a degree in Civil Engineering from FAAP.

Vera Pizzo is investor relations and products intern at Ibiuna Investimentos since 2023. Prior to this, she worked at Banco Safra. She is currently an undergraduate student majoring in Public Administration at Fundação Getúlio Vargas (FGV).