Laters, London. Olá, Rio!

After ten exciting years of living in London, my wife and I have decided that it is time for a change and we are moving to Rio de Janeiro, Brazil.

It has long been an aspiration of ours to live abroad, and as I happen to speak reasonable Portuguese, have dual British and Brazilian citizenship, and a grandmother living in Rio, the choice was easy. My wife also likes drinking caipirinhas on the beach.

It would be remiss of me to blame this move on Brexit, although the option of remaining in London is acutely less enticing than it was a couple of years ago. Whilst I have little doubt that London will remain perennially vibrant, how it will fare within a country increasingly turning inwards and uncomfortable with so many of the things that make London great is a concern that did play a part in our decision. This is well captured by a NYT article here.

I take some sardonic pleasure in contributing to a reduction in this year's net migration statistic, imagining that departures such as ours weren’t exactly what 'Leave' campaigners had in mind when wanting to ‘take back control’ of our borders.

It would be doubly incorrect to blame political uncertainty in the UK as a motivating factor, as if this were a prime concern then Brazil would hardly be the destination of choice given the current recession and ongoing massive corruption scandal. For anyone working in investments it is easy to be seduced by the prospect of being contrarian; getting in at the bottom and riding the wave back up. However I fear Baron Rothschild’s invocation to 'buy when there’s blood on the streets' (i.e. when things are at their worst) didn't mean move there with your family. 

The timing of our move is indicative of where we are in our lives rather than driven by external factors, yet I am optimistic (although I should state I am by no means a Brazil expert…yet).

The massive corruption scandal that has made the news is not in the news because the corruption is new, nor unique amongst EM countries, but because for the first time senior politicians and businessmen are being prosecuted and imprisoned. Albeit imperfect, this is order and progress, a direct translation of the words emblazoned on the Brazilian flag - ordem e progresso. 

The longer-term hope is in what this might mean for Brazilian democracy. There is a saying in Brazil 'rouba mas faz', which can be translated as 'he steals, but he gets things done', referring to a tolerance within the electorate for corrupt yet effective politicians. The aspiration is that the realisation of the insidious effects corruption has on the country will lead to the demise of this indulgence, although this remains very much a hope rather than an expectation at this stage. The wildly unpredictable presidential election next year should provide an interesting acid test.

And the reason for why we have chosen to live in Rio is difficult to explain. Beyond just how spectacular the city is, it is the energy of the people that make it such an intriguing place. Having visited close to 70 countries there is nowhere else in the world as exciting.

I am looking to continue my career in investment management – specifically working with one of the number of high quality investment firms in Brazil to help them raise international capital. I am currently in talks with several Brazilian firms but am always open to recommendations or introductions - the same goes for more general tips and contacts in Rio. Lastly, please get in touch if you are planning a trip down to Rio and it would be our pleasure to entertain you.

Abra?os,

Nick