After four straight years in second place, BTG Pactual’s Fábio Monteiro climbs the final rung to top the sector for the first time. “He thinks like an investor,” observes one advocate. The 37-year-old, who earned a bachelor’s degree in mathematics at São Paulo’s Universidade Estadual de Campinas, does have buy-side experience. He worked as a money manager at Constellation Investimentos e Participações for three years before switching to the sell side in 2008 to cover consumer stocks at Bradesco Corretora, then moved to his current firm the following year. Although Monteiro acknowledges that macroeconomic issues could adversely affect the sector in the short term, the São Paulo–based analyst is bullish for the medium and long terms. “Wages will likely rise and increase demand for numerous goods,” he explains. “Most subsegments — such as apparel and drugstores — are very fragmented. We see consolidation happening, thus creating opportunities for the big players.” Monteiro’s top picks for the year, chosen in part for their robust earnings-per-share growth, include Arezzo Indústria e Comércio, a Belo Horizonte–based designer of women’s accessories and footwear, and two companies headquartered in São Paulo: drugstore operator Brasil Pharma and Cía. Brasileira de Distribuição, which operates appliance shops, convenience stores and supermarkets. — Pam Baker |
Industries – Consumer Goods: First
