Institutional
Services
Far beyond execution
Economists and Strategists at Warren Rena
Sérgio Goldenstein
Monetary Policy, Interest Market, and Government Bonds
Chief Strategist at Warren Rena. With 30 years’ experience in the financial market, he worked for 11 years at the Central Bank, holding the positions of Consultant to the Monetary Policy Board and Head of Demab (Central Bank Department of Open Market Operations). He was an Investment Director at Porto Seguro and a Director of Fixed Income, Foreign Exchange and Derivatives at B3. He has also worked as an IMF consultant and portfolio manager for multimarket funds. Sérgio holds a master's degree in Economics from UFRJ (Universidade Federal do Rio de Janeiro).
Felipe Salto
Tax Policy
Chief Economist at Warren Rena. Elected Economist ofthe Year 2023 – OEB (Brazilian Association of Economists). Former Secretary of Finance and Planning of the State of São Paulo (2022) and 1st Chief Executive Officer of the Brazilian Independent Fiscal Institution – IFI (2016-2022). His book “Finanças Públicas” (Public Finances) won the Jabuti Prize (2017). He was a specialist in public finances at Tendências (2008-2014). He is a columnist for Estadão, a professor at IDP (Brazilian Institute of Education, Development and Research) and a member of the High Council of Economics of FIESP (Federation of Industries of the State of São Paulo). Economist (FGV/EESP) with a master’s degree in Public Administration and Government (FGV/EAESP). 1st place in the 2013 GV/Research award.
Andréa Angelo
Inflation
Inflation strategist at Warren Rena, with a solid 11-year career in the financial market. With experience in multimarket funds of Assets and banking institutions, she has worked at renowned companies such as Mauá Capital, Canvas Capital and Bradesco. She has been an inflation specialist for seven years. Andréa holds a master's degree in Economics from FGV-SP(Fundação Getúlio Vargas).
Erich Decat
Politics
He has been a political analyst in Brasilia for over 13 years. He has worked as a journalist for Folha de São Paulo and Estadão newspapers.
Areas of Expertise
Monetary Policy
Interest and Government Securities Market
  • Analysis of monetary policy
  • Scenario simulations for Copom (Monetary Policy Committee) and future interest rates
  • Analysis of the primary and secondary government bond markets
  •  IMA-B (Inflation Linked Sovereign Index – Series B) and IRF-M (Fixed Rate Sovereign Index) fund rebalancing projections
  • Studies on the interest market, implicit inflation, repurchase and resale agreements and foreign exchange market
Tax Policy
  • Public finances projections and scenarios
  • Analysis of relevant tax publications
  • Consultation with clients on tax-related topics
    Lectures and meetings on the economic and taxsituation
  • Preparation of Technical Notes on relevant tax events, such as tax reform
  • Analysis of matters being discussed in the National Congress from aneconomic and fiscal perspective
  • Meetings with authorities, especially in theeconomic areas of the federal government
Politics
  • Search aggregator
  • Daily political synopsis
  • Weekly conference agenda
  • Monitoring of votes
  • Consultations for specific agendas
Inflation
  • Daily monitoring of inflation news
  • IPCA (Amplified National Consumer Price Index) and IPCA 15 analysis and projections
  • Carrying out proprietary inflation surveys
  • Supplementary price monitoring studies