New Petrobras boss gets warm reception

Appointment of ‘Chicago Boy’ to head state-owned giant reinforces reform agenda optimism

The incoming Bolsonaro regime in Brazil will appoint Roberto Castello Branco as the new CEO of state-owned oil firm Petrobras, in a move that has bolstered confidence that the new administration will continue to pursue a reformist agenda. Castello Branco is currently a director at the Brazilian FGV thinktank, having previously worked for the country's central bank, as IR director and chief economist for metals firm Vale and, for a year, served on Petrobras' board. In the late 1970s, he completed an economics post-doc at the University of Chicago, leading to conclusions that he is close to Bolsonaro's economics czar Paulo Guedes and that the reformist wing of the new administration is, at lea