RIO DE JANEIRO, BRAZIL – Seven months after leaving the Bolsonaro government, Sérgio Moro has a new job. On Sunday, November 29th, Alvarez & Marsal announced the ex-Minister as the new General Director of Disputes, Investigations, and Compliance, in São Paulo. Alvarez is one of the largest corporate recovery consulting firms in the world, with 5,000 employees in four continents, with eight offices in Brazil.
“Sérgio’s appointment strengthens our ability to help clients overcome complex regulatory issues, leveraging our approach to leadership, action, and results,” said Marcos Ganut, General Director of Infrastructure Projects and Capital of the U.S. consulting firm. According to the company’s statement, Moro “is eager to develop the company’s legacy of driving change and helping clients solve current challenges while anticipating the future”.
At least for now, Moro’s hiring by the private sector places the former judge and ex-Minister on a different path from disputing the presidency in 2022. Moro continues to reject a potential candidacy to any elective office in the upcoming elections – but he does not deny the prospect of supporting candidates.
According to Alvarez & Marsal’s official statement, it would appear that Moro intends to sell consulting services in internal controls and act in investigations. He and A&M would lend their cards to one another, in a kind of reciprocal relationship. This change is common in the United States. For example, William (Bill) Burck, a former prosecutor who earned a reputation as a tough guy in his time as accuser, was in charge of negotiating Odebrecht’s leniency agreement with the U.S. Department of Justice (DoJ).
The selection of the key player in Operation Lava Jato to work in corporate recovery took executives specialized in the business by surprise. An executive states that the compliance and investigation area should indeed grow stronger in consulting firms like Alvarez and Marsal. But the ex-Minister’s most obvious potential clients have reservations about his work at the head of Lava Jato. Moreover, one of the major criticisms of Operation Lava Jato was its unfamiliarity with companies’ corporate life. “Companies have a problem with him,” says the executive.
After his turbulent transition in the government, Moro is facing yet another great challenge in the private sector.
Source: Exame