Our Team

Our team is young, full of energy, focus and willingness to achieve great things

At Navi, studying is an addiction and a pleasure that became a business. We are hungry for knowledge and we wake up reading the news. The market does not stop changing and we do not stop studying.

We follow all available information. We roll up our sleeves and look for information straight from the source. We are always reviewing our look and improving our knowledge. The next day, we wake up to study more.

Our Partners

Antonio Lobato

Partner and head of Data Science

For 3 years, Antonio worked in Data Science and Quantitative Research & BI areas, in addition to managing a multidisciplinary IT team, at Banco BOCOM BBM. He is an electronic and computer engineer, graduated from UFRJ as the best student in class, and he has a master’s degree in Electrical Engineering from COPPE/UFRJ, with publications in national and international conferences.

Antonio Lobato

Felipe Campos

Partner, CEO and equity co-CIO

For nine years (2009 - 2017), Felipe was the partner responsible for equities at Kondor Invest, where he was the manager of the Long Short Fund since its inception and the Long Only Fund since 2015. His career started in the BBM Group (1999 - 2008), passing through several areas first as an analyst and then equities PM. Between 2008 and 2009, he was co-PM at Banco Itaú BBA. He is an engineer from UFRJ and holds an MBA in Finance from FGV.

Felipe Campos

Gustavo Lima

Partner and equity analyst

Gustavo was an equity analyst in the paper and pulp, mining, steel and food sectors at Kondor Invest (2017 - 2018). After attending the risk area of Oceana Investimentos (2010) and market research at the Institute of Engineering and Management (Visagio Group, 2011 - 2013), he joined Tese Investimentos in 2013. In Tese, he was part of the risk management (2013 - 2015) and, after, participated in the management team, focused on macro-global trades (2015 - 2016). He is an Industrial Engineer graduated from UFRJ and hold a master’s degree in Macroeconomics and Finance from PUC-RJ.

Gustavo Lima

Gustavo Ribas

Partner, Deputy CEO and real estate CIO

For the last seven years, Gustavo was an executive of 3G Capital, first as an investment professional and member of 3G Brazil Investment Committee, and later as the Global Head of Real Estate at Restaurant Brands International, a 3G portfolio company and parent of Burger King, Tim Hortons and Popeyes. From 2010 - 2012, he was an equity research associate in Itaú Asset Management’s hedge fund group. His career started at BBM Bank in the derivatives and high yield debt financing department. He holds an Economics degree from UFRJ, a Law degree from UERJ and a master’s in Finance from FGV.

Gustavo Ribas

João Aragon

Partner and COO

For four years (2012 - 2016), João was partner and responsible for the operations and risk areas of Tese Investimentos. His career started at RiskControl (2007 - 2009), a BBM Group company, going through development and support areas. Between 2009 and 2012, he was a risk analyst and operations at Pollux Capital. He holds a degree in Electrical Engineering from PUC-RIO, a master's degree in Finance from FGV and a certification from Financial Risk Manager.

João Aragon

Jorge Dantas, CFA

Partner and equity analyst

Jorge’s career started at Kondor Invest, where he was an equity analyst for seven years (2012 - 2018), responsible for financial, health and shopping malls. He is an economist graduated from Insper and CFA® Charterholder since 2018.

Jorge Dantas, CFA

Luis Stacchini, CFA

Partner and member of the real estate investment committee

Between 2012 and 2020, Luis worked as an equity analyst covering the real estate sector at Credit Suisse. He assumed lead coverage in 2018 and was ranked top-3 analyst by Institutional Investor survey (All-Brazil Research Team) in 2019 and 2020. He is an Industrial Engineer graduated from Poli-USP and a CFA® Charterholder since 2017.

Luis Stacchini, CFA

Luisa Souto

Partner and equity analyst

Luisa was an equity analyst in the consumer and retail sector at Kondor Invest from 2017 to 2018. Her career started at Banco CR2 (2010-2012), going through the areas of treasury and credit analysis. Between 2012 and 2016, she was an equity analyst at Banco Brasil Plural, covering the electric, road concession and telecom sectors. She is an economist graduated from PUC-RJ.

Luisa Souto

Marcella Derze

Partner responsible for IR area

Marcella’s career started as a macroeconomics analyst at BBM Investments (current Bahia Asset – from 2012 - 2016) and she migrated to Investor Relations and became a Partner in 2017. She left the institution in 2019 when she took over the current activities. She is an economist and master in Macroeconomics and Finance by PUC-RJ.

Marcella Derze

Marcelo Araujo, CFA

Partner and coordinator of Operations area

For more than 3 years, Marcelo worked in the back office of Banco BOCOM BBM where he coordinated client operations, including the group manager focused on exclusive funds. Previously he worked in the areas of M&A by EBAM (company of the GP group) and in market intelligence by the Institute of Management Engineering. He is a production engineer graduated from UFRJ and CFA® Charterholder since 2018.

Marcelo Araujo, CFA

Matheus Amorim

Partner and equity analyst

For two and a half years (2016 - 2018), Matheus was an equity analyst in the utilities, oil and gas, and technology sectors at Kondor Invest. His career started at Advent International (2013) as a trainee in the Private Equity investment team. Between 2014 and 2015, he was an equity analyst at 3G Capital, covering the electric, road concession and capital goods sectors. He is an Aeronautical Engineer formed by ITA.

Matheus Amorim

Raphael Ornellas

Partner and Economist

For two years, Raphael was a professor of International Economics at PUC-Rio. Later, he served as senior economist at Banco Brasil Plural and Garde Asset, responsible for analyzing the Brazilian economy. He holds a Ph.D. in Economics from PUC-Rio.

Raphael Ornellas

Victor Cerqueira

Partner and equity analyst

Victor worked at Studio Investimentos (2014 - 2018) and Truxt Investimentos (2018 - 2020), where he was responsible for aviation, vehicle leasing, technology, telecom and agribusiness sectors. He is an economist graduated from IBMEC-RJ and postgraduate in Macroeconomics and Finance from PUC-RJ.

Victor Cerqueira

Waldir Serafim

Partner and co-CIO

For five years, Waldir was a partner of the equities branch at Kondor Invest (2014 - 2018) and before that he was an analyst in several sectors from 2011 to 2013. His career started at Invest Tech, a fund manager of Venture Capital focused on technology companies. Besides that, he was an analyst for 3 years (2008 - 2010) at Banco Safra. He is an economist from Insper.

Waldir Serafim