Kayath Would Be Strong Finance Minister Pick, Says Eduardo Bolsonaro

Brazilian investor and former banker Marcelo Kayath would be "an excellent choice" for finance minister if Senator Flavio Bolsonaro wins next month's presidential election against President Luiz Inacio Lula da Silva, according to the candidate's brother and campaign adviser, Eduardo Bolsonaro.

Kayath founded the investment advisory firm QMS Capital after spending two decades at Credit Suisse, where he served as managing director for Latin America. Eduardo Bolsonaro, a former congressman, said he has met Kayath four times, including on Thursday, and pointed to a "convergence of views on several issues."

He stressed that no decision has been made and that other candidates remain under consideration, though he declined to name them. A campaign member, speaking on condition of anonymity, said Flavio Bolsonaro's focus remains on the election and that no frontrunner has emerged for the top economic post.

Flavio Bolsonaro and Lula are locked in a virtually tied race ahead of the October vote.

Eduardo Bolsonaro described Kayath as a key architect of Brazil's IPO boom in the 2000s, praising his ability to sell the country's story abroad and attract foreign investment. He also called him a "bold thinker" with strong ties to major U.S. financial players, including JPMorgan and Goldman Sachs.

Kayath said his priority would be helping craft solutions to Brazil's challenges, particularly through a new sustainable-growth agenda. He said adjustments are needed to get the country back on track while preserving social programs and protecting those who depend on them most.

Asked whether that implied changes to mandatory spending, Kayath said any expenditure cuts should be "surgical, not indiscriminate." He added that such adjustments should aim to improve people's lives and make social policies more efficient and sustainable, rather than pleasing financial markets.