When executives at a Spanish communications firm decided to start up an office in Brazil, they wanted to enlist the expertise of a local partner who knew the country thoroughly.
They thought their cultural sensitivity was well repaid when they found what seemed like the perfect fit: a group run by an extremely well-connected, debonair carioca, as inhabitants of Rio de Janeiro are known. A series of meetings and trans-Atlantic flights later they were whisker-close to the deal but then reached a sticking point. The dapper Brazilian had a son who needed a job to fill up a gap year before he headed off for his MBA in the US. Wouldn’t the Spanish company be a great place for his offspring to cut his teeth as a budding MD? The Spanish baulked at such a massive promotion and tried to get round the demand, but to no avail. In the end, the demand scuppered the deal and left a bitter taste. “After that, we decided Brazil was not for us,” said one of the Spanish executives.
