Brazil's largest private bank Itaú has declared its support for her
Ecologist Marina Silva attracting investors support in Brazilian Presidential race
By Peter Howard Wertheim
Investors are warming up to a possible victory by Marina Silva in Brazil's presidential election as the popular environmentalist emerges as their best shot at avoiding four more years of a government they strongly dislike.
One of Marina Silva's closest aides is Ms.Neca Setubal, heiress to Banco Itau, Brazil's largest private bank. In her platform Marina advocates an independent Central Bank which enrages the PT party of the government.
Disdain for President Dilma Rousseff's leftist policies runs so deep in Brazilian financial markets that one comment making the rounds there says: "Marina is like Russian roulette, but Dilma is like a fully-loaded revolver."
It captures the mistrust that many investors feel toward Silva, whose history of volatile decisions, lack of executive experience and emphasis on eco-friendly policies, have all raised red flags.
But a recent rally in Brazilian assets suggests that, at least for now, investors are looking past their misgivings.
Peter Howard Wertheim is a Scandoil staff writer based in Rio de Janeiro, Brazil. He can be reached at email@example.com