The Prodigal Sons

The legions of Brazilian executives with international careers are finding themselves in the midst of an unusual scenario: the inversion of the typical career path. From the start of the global financial crisis and until now, the trend of Brazilian professionals attempting to repatriate has brought a wave of activity to companies specialized in professional relocation, particularly those in major cities. Driven away by tough times in the global economy and attracted by the optimism surrounding Brazilian business, the number of Brazilians who have decided chart a course back home has jumped from 2008 to present.

These are the findings of a recent survey, conducted in São Paulo by headhunting firm Michael Page Executive Search, a branch of the American company MP. In the first quarter of this year, 90 professionals with an average age of 43 sought the company’s help for relocation to Brazil. In the same period of 2008 (before the crisis worsened) only 15 used the same service. Most of these executives (52% according to the poll) were stationed in Europe, divided among France, England, Portugal, Germany and Spain. Another 20% were living in the United States, with the remainder spread across Africa, Middle East and Latin America. “The search is still strong today,” says Fernando Andraus, responsible for the area of recruitment at Michael Page in Brazil.

Part of the wave includes Brazilians seeking to replace employment lost abroad after the bubble burst and triggered the financial crisis. Others preferred to change course in order to avoid environments that could be detrimental to their development. This was the case of São Paulo native Alvaro Spinolla, an economist who graduated from the University of Pennsylvania, and returned to Brazil after spending nine years in the United States. Alvaro, 28, worked since 2004 at Fannie Mae, an American mortgage giant at the epicenter of the subprime crisis late last year. There, he began his executive career, but he witnessed the crumbling of an empire.

He began to worry when he saw the fallout after the implosion of investment bank Lehman Brothers. Then, Fannie Mae had to rely on financial assistance from the U.S. government to avoid bankruptcy, and was virtually nationalized. He was spared the wave of cuts at Fannie Mae that followed - “I was at the center of some mortgage securitizations, which was part of an area that made a profit,” he explains. But in the generally unfavorable situation, he feared the worst.
“I decided to find a headhunter in Brazil, because I felt the time to return was approaching.” He arrived in January of this year, bringing his North American girlfriend (now his wife) and was hired by GWI Asset Manager, a wealth manager in São Paulo.

Soon afterwards he received another proposal, this time from CNAA (National Sugar and Alcohol Company). He decided to risk it, despite knowing little about the sugar-alcohol sector. He is responsible for strategic planning and financial modeling at the company. His internal experience helped. “Professional growth was great,” he says. “When I arrived, the doors of the Brazilian market were open”. Alvaro says that the greatest difficulties in adapting to life in the U.S. was missing family and the cultural differences. “Over time, I got accustomed,” he recalls. “But it’s really good to be home again.”

Another measure of the growing demand for replacement in Fesa, a headhunting firm specializing in the financial market, is the set of troops ushered in to meet the needs of returnees. Fesa has 40 professionals solely dedicated to executives who want to make their way back. The team’s task is to find a good place for them. Among the most sought after areas include consumer, telecommunications and basic industries, where there are signs of new investment.

According to Aline Zimermann, a partner at FESA, the Brazilian economy, which is in good enough shape at this time to receive these expatriates, offers a unique atmosphere. “Brazil has always been a great school owing to the endless crises that it has experienced,” she says. “Combining that with international experience makes for a fully developed professional, able to bring a global strategic vision to the region.” Many of them take the opportunity to earn an MBA abroad and become fluent in foreign languages. According to Aline, those who leave for the global market become more competitive on the return, and their earnings in Brazil are based on what they achieved abroad.

New Projects

The difficult situation abroad, with little prospect of quick recovery, has shaken up some Brazilian companies with operations outside the country. Sometimes, the return of an executive is a company decision. “Sadia alone brought back two directors of foreign trade to Brazil,” said Gilberto Guimarães, president of BPI in Brazil, a multinational specialized in human resources. He recalls that Itaú Unibanco did the same earlier this year.

Moreover, the rapid reaction of the Brazilian market to the global crisis has put the country in the international spotlight. New projects are starting to trickle in from foreign companies, previously spooked by the crisis and delaying plans to enter Brazil. Since last June, foreign multinationals have resumed searches for country managers for operations in Brazil, offering new opportunities for returning Brazilians with international experience.

Michael Page alone is directly involved in more than three projects. “The demands are high and it is almost essential to have built a solid international trajectory,” says Fernando Andraus, of Michael Page. The professional maturity built in countries with economic structure and a different culture does the returning executive many favors. “Companies that are doing start up in Brazil prefer Brazilian executives with international career path,” said Aline Zimermann of, Fesa, which also participates in searches of this type. “It is one hundred percent certain that they will be absorbed.”
Versatility also helps. Those who have accumulated international experience working in diverse fields earn points when it comes time to hiring time, particularly in those with a background in finance, engineering, new markets, foreign trade, international law, information technology and brand positioning. “The market demands it,” says the expert Magui Lins de Castro, managing partner of Southmark, an executive recruiter in Sao Paulo. “The Brazilian executive has this facility, and so becomes a professional with more mobility.”

Paola Pazzotto, a 36-year-old from São Paulo, has built a varied career within one company - British American Tobacco, represented in Brazil by Souza Cruz. After spending five years abroad, she is back in Brazil. After earning a business administration degree from the University of São Paulo, Paola embarked on an international career and pursued her goal with determination. She began working at Souza Cruz - with worldwide operations in 180 countries - and strengthened her CV with an MBA through Coppead at the Federal University of Rio de Janeiro, and became fluent in English and in Spanish (with knowledge of Italian and French). Today, with 12 years at Souza Cruz / British American Tobacco and many stories to tell, she believes the investment was worth it.

Paola works with trade marketing and branding. In 2004, she showed interest in leaving the country and the company gave her a higher position in Chile. In Brazil, she was product manager, but in Chile became portfolio manager (of all products in the country). Less than 20 days after arriving, she faced a trial by fire: to make a long presentation all in Spanish. “It was tense,” she recalls. “More than 50 people were listening to me, but the acceptance was positive.” In three months, she says, she had totally adapted.

“The advantage is that the Souza Cruz has a very strong corporate culture and unique worldwide,” she says. “This allowed me to start playing.” Besides a pay raise, Paola received benefits including rent, cost of living adjustment, payment of essential expenses, airfare to see family, and a budget for her and her husband Felipe, to study. Felipe, an enologist by training, did not miss the chance to take a specialized course in the country that offers some of the best wines of South America. So life went until 2006, when Paola faced new international challenge, this time on the other side of the world. As she wanted international visibility, she determined that the group’s headquarters in London, or a major Asian country, should be her next stop. She landed in Hong Kong. This time, she was responsible for developing a brand - the famous Dunhill – throughout Asia-Pacific, and in more than 40 markets. Most members of her direct team of about 15 people were expatriates. The distance weighed more heavily on her this time, but she says she was convinced this is what she wanted.

What has been the outcome? Today, newly returned, Paola believes that her vision for the brands, competition and strategic decisions is much broader.”In Asia, I reported directly to headquarters,” she says. “This makes me more secure today in the decisions I make here, because I know what the executive director at company headquarters wants.” Paola was privileged in a way many newly repatriated executives are not: she could plan her return with Souza Cruz. In May this year, she took over one of the areas where Brazil is a worldwide leader: trade marketing sales and product distribution. She earns double what she did when she left the country, and gives a tip for anyone who wants to build a career abroad: marry personal interests with the company. And finally: “Having strength in adversity is also important,” she says.

Between their departure and return, what do Brazilian returnees find different in the wake of the crisis? Michael Page research shows that placement times for these professionals has increased from three to six months. Exorbitant bonuses for top executives are passé, and the crisis trimmed the fat off other extras. However, with the Brazilian economy showing signs of recovery, there is still room for negotiation between executives and companies.
“The parameters are different now, more realistic, but they still pay their part for results,” observes Magui of Southmark. “The executives with an international career are worth more,” concludes Gilberto Guimarães, the BPI. “Among two equally competent people, they end up being chosen and, moreover, sometimes with salaries 10% to 30% above average,” he notes.

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