A private dinner hosted by QMS Capital partner Marcelo Kayath in São Paulo’s Itaim Bibi district has drawn political scrutiny after Flávio Bolsonaro met with more than 20 bankers and business leaders the night before publication.
The event, held on August 27 at 20:00 local time and concluding at 22:00, included executives from Bradesco, Itaú, Santander and Nubank, among others. Flávio Bolsonaro was accompanied by Daniella Marques, his campaign’s economic plan coordinator and former Caixa president. Earlier in the day, he met with Bradesco executives on Faria Lima Avenue.
Discussions centered on economic proposals, including a proposed 1.5% of GDP spending reduction and revisions to the fiscal framework. Participants also explored mechanisms to curb public debt growth, such as coordination between branches of government and the creation of an Independent Fiscal Institution under Senate oversight.
Reactions to the meeting were mixed. Sources cited by O Globo and CNN Brasil noted that the senator appeared unprepared, requiring support from Marques to address questions. The financial sector had previously favored São Paulo Governor Tarcísio de Freitas as the right-wing candidate in the race.
The event follows recent controversy surrounding Flávio Bolsonaro’s reported request for financing from banker Daniel Vorcaro for a film project, an issue the senator has described as resolved.
President Luiz Inácio Lula da Silva has signaled a shift in his approach to bankers involved in the meeting, according to O Globo columnist Bela Megale. Lula’s dissatisfaction was reportedly directed at Luiz Carlos Trabuco and Milton Maluhy Filho, both members of his advisory council, with Maluhy Filho identified as a key organizer of the gathering.
