Amaury Bier

Amaury Guilherme Bier (born 1960) is a Brazilian economist and investment manager who served as Executive Secretary of the Ministry of Finance of Brazil from 1999 to 2002 and as Executive Director of the World Bank, International Finance Corporation (IFC), and Multilateral Investment Guarantee Agency (MIGA) from 2002 to 2004. He served as President of Gávea Investimentos from 2007 to 2022 and has been a partner responsible for private equity investments since 2014.

Early life and education Amaury Guilherme Bier was born in Warsaw, Poland, in 1960, and holds Brazilian nationality. He earned a Bachelor's degree in Economics from the School of Economics, Business and Accounting at the University of São Paulo (FEA-USP) in 1982.

He subsequently pursued graduate studies in Economics at FEA-USP from 1983 to 1985, completing coursework toward Master's and PhD degrees, though he did not defend a thesis. In 1994, he joined Citibank Brazil as Chief Economist, a position he held until 1996.

Government service (1996–2002)

Ministry of Planning (1996–1998) In 1996, Bier joined the Brazilian federal government as Chief Economist at the Ministry of Planning, Budget and Management, serving until 1998.

As Executive Secretary, Bier was involved in Brazilian economic policy during a period that included the 1999 currency devaluation, implementation of inflation targeting, and negotiations with international financial institutions. His appointment was documented in presidential decrees signed by President Fernando Henrique Cardoso.

During his tenure, Bier participated in Brazil's privatization program from 1998 to 2002. He also served as Chairman of the Board of Directors at several major Brazilian state-owned banks, including Banco do Brasil, Caixa Econômica Federal, Banco do Estado de São Paulo (Banespa), and Banco do Nordeste. The New York Times reported that "Brazil sent the mission, headed by Amaury Bier, a top Finance Ministry official, and Ilan Goldfajn, the central bank's economic policy director" to Washington.

His departure from government was announced in October 2002, when the Official Gazette of the Union (Diário Oficial da União) published a decree accepting his resignation from the position of Executive Secretary of the Ministry of Finance.

World Bank Group (2002–2004) Following his government service, Bier was appointed Executive Director of the World Bank, International Finance Corporation (IFC), and Multilateral Investment Guarantee Agency (MIGA), representing Brazil and other countries from 2002 to 2003.

Gávea Investimentos (2004–present) In 2004, Bier joined Gávea Investimentos, the investment management firm founded by former Brazilian Central Bank President Arminio Fraga. The transaction was valued at approximately $270 million.

Return to independent ownership (2016) In 2016, Gávea's founders, including Bier, bought back the firm from JPMorgan, returning it to independent Brazilian ownership.

Board positions and other activities Bier has served on numerous corporate boards since 1997.

Public commentary Bier has provided commentary on Brazilian economic policy throughout his career. In 2015, he stated that Brazil's economic situation remained "very delicate," referencing his experience as Executive Secretary of the Ministry of Finance from 1999 to 2002.