Eduardo Guardia, a partner at Banco BTG Pactual SA in Brazil who supported fiscal austerity during a long public service career that included a brief stint as finance minister, has died. He was 56 years old.
A BTG spokesperson confirmed his death but declined to provide further details. Let’s see how did Eduardo Guardia die.
Who was Eduardo Guardia?
Guardia was Brazil’s finance minister for 9 months in former President Michel Temer’s administration in 2018, following the departure of his previous boss, Henrique Meirelles, to run for president. Guardia had little more than a month in office when he was forced to deal with a dramatic 10-day nationwide trucker strike that crippled Latin America’s largest economy, causing factories to close and fuel prices to skyrocket.
Guardia was born on January 19, 1966, in Sao Paulo, Brazil. In 2002, he was Brazil’s Treasury Secretary, and from 2003 to 2006, he was the finance minister of Sao Paulo, the country’s richest state. He was the chief financial officer and head of products at Brazil’s stock exchange operator B3 SA for nearly six years, putting him in direct contact with senior executives at large banks.
He was also a vocal supporter of Brazil’s pension reform bill, which called for a major overhaul of the country’s bloated public pension system. Investors saw the bill as a massive step toward putting the country’s public finances on a sustainable path, and it would take years to pass through Congress. The bill, which was initiated by Meirelles in 2016, was only approved during Paulo Guedes’ tenure as economic minister in 2019.
Guardia joined the region’s largest standalone investment bank, Banco BTG Pactual SA, as a partner in 2019 after leaving the government. He was in charge of the bank’s asset management unit at BTG, and he presided over an increase in the amount of money the bank manages. The increase occurred during a period of expansion for Brazil’s money management industry, as record-low interest rates pushed investors to riskier products like hedge funds.
Cause of death
Former finance minister and CEO of BTG Pactual Asset Management, economist Eduardo Guardia, died at the age of 56. BTG Pactual Asset, where he had taken over as CEO after leaving the federal government, confirmed the information.
How did Eduardo Guardia die: The cause of death has not been disclosed. According to reports, he was being treated for brain cancer.
Eduardo Guardia leaves us too soon, too young, at the age of 56, when he still had a lot to offer Brazil and, above all, his family. It is a loss felt by all.
We regret the death of economist Eduardo Guardia, former Minister of Finance. Guardia served the country, in the various positions he held, in a sober, technical, and public spirit. Here is our tribute to Eduardo’s family and friends. IFI Board and Staff
My condolences on the death of Eduardo Guardia. He was a great Secretary and Minister of Finance. He played his role very well in the public area and recently in the private area. A loss for all of us. My sympathy to family and friends.
A big loss. Balance, discretion, and ability to execute, are characteristics that marked the passage of Eduardo Guardia in public life. My condolences to the family and friends.
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