Henry R. Kravis and George R. Roberts, Co-Founders and Co-Chief Executive Officers of KKR, stated: 'Henrique Meirelles has had an incredibly distinguished career. He took over the Central Bankat a critical time for Brazil and played a key role in laying the foundation for the country's prosperity today. We believe he will be a tremendously valuable partner to the firm and our portfolio companies worldwide. We are fortunate to have him on our team'.
Meirelles, Brazil's longest serving central bank chief under former President Luiz Inácio Lula da Silva, served in this post from January 2003 to December 2010. Prior to this position, he was President of Fleet Boston's Corporate and Global Bank, a position he was appointed to in 1999, following the merger of Bank Boston Corporation and Fleet Financial Group.
Meirelles joined Bank Boston Corporationin 1974, becoming its President in Brazil in 1984 and its President and Chief Operating Officer in 1996.
Meirelles currently serves as Chairman of J&F Participações S.A., the parent company of JBS S.A., the world's largest beef producer, Chairman of Lazard Americas and Board member of Brazilian airline Azul Linhas AéreasBrasileiras S.A.. He is the Chairman Emeritus of the Brazilian Association of International Banks, Chairman of theSociety for the Revitalization of the Cityof São Paulo, and the founding President of the Latin American Leasing Federation. He was the Chairman of the Travessia Foundationand of the American Chamber of Commercein São Paulo.
Meirelles formerly served on a number of corporate boards, including those of BankBoston Corp, FleetBoston Financial, Raytheon Corporation, Bestfoods and Champion International.
'KKR is a premier global investment firm and a pioneer of the private equity industry with a strong reputation, and a distinguished track record of both generating solid returns and creating value in its portfolio company investments', said Meirelles. 'I have gotten to know their outstanding leadership team over the years and am truly honored to join this team to play an important role in KKR's efforts to expand its franchise in the region. Brazil today presents great opportunities for investors. Its strong internal market can be a consistent source of prosperity for both the Brazilian people and the companies that invest here', Meirelles said.
Meirelles has participated in Advisory Boards of the Harvard Kennedy School of Government,Sloan School of Management of the Massachusetts Institute of Technologyand the Carroll School of Managementof the Boston College. He was a member of the Board of Trustees of the New England Conservatory of Musicand of the Institute of Contemporary Arts of Boston.
'Today's announcement is an exciting step in building our presence in Brazil and a reflection of our long-term interest in Latin America. The region presents exciting opportunities for the firm, and we will rely on Henrique's advice and insights in the world of government, finance and investment as we expand our business in Brazil and throughout Latin America. We are privileged to have Henrique join our effort', said Alex Navab, Co-Head of KKR's North American Private Equity business.
KKR's Senior Advisorsare part of the firm's integrated model of value creation. They include current and former senior executives who bring unique leadership skills to complement the work of KKR investment professionals and the operational executives at KKR Capstone, and serve as liaisons to manage relationships with current and future investment partners. As a Senior Advisor, Meirelles will play an important role in KKR's business development effort in Brazil and in Latin America.