Brazil's foreign charm offensive - following its recent Olympics victory - continued in the City as the country's development bank and BM+F Bovespa, its fast-growing stock and derivatives exchange, held a lunch at the Mansion House.

Coinciding with Brazilian president Luiz Inacio Lula da Silva's visit to London, it marked the opening of BM+F Bovespa's London office, set to be headed by Cathy Lyall , formerly of Icap and the Chicago Board of Trade, who is acting as a consultant to the Brazilian bourse.