President Graça introduces new FIVB investment plan
FIVB President Dr. Ary S. Graça F° has set out a new investment strategy for the sport’s governing body in order to streamline expenditure and maximize revenue.
President Graça served as a director for several major Brazilian banks, including the Banco Mercantil de São Paulo where he headed up 15,000 employees.
He has appointed Mr Neil Brito, bank consultant, as the new investment strategy consultant for the FIVB and will work together with him to define the details of a new strategy to minimise loss and maximise the growth of the FIVB’s financial resources.
Funds under the FIVB management were previously overseen by the French bank Société Générale, and JP Morgan.
Under the new arrangements, Société Générale’s responsibilities will be shared with the Swiss banks Pictet, Lombard Odier & Cie and UBP (Union Bancaire Privée). JP Morgan will continue to look after the same managed funds as before.