Annual Report

Transcription

1 Annual Report

2 vision To be the leading institution of higher learning in Brazil in our fields and be acknowledged as such. mission To be a leading center of education and research in the fields of Business, Economics, Law and Engineering, exploring their complementarities to positively impact organizations and society. We develop, at all stages of their professional lives, innovative leaders to make a difference, preparing them to deal with the complexities of the real world, by strongly engaging both faculty and students in the teaching and learning process. We value academic research based on real-world issues, relevant to organizations and to society. letter from the president governance under graduates graduate programs professional masters relationship with the market entrepreneurship international experience campus expansion scholarship program education and research awards executive education 18 faculty alumni community 29 scholarship fund 30 research centers 33 academic production 34 events and media history indicators academic programs financial statements In 2013, Insper was reaccredited by the Association of MBAs (AMBA), an international organization that reviews and accredits MBA programs. Since 2010, the Institution has held the most important international accreditation of business schools granted by the Association to Advance Collegiate Business Schools (AACSB International).

3 Annual Report 2013 We planted many seeds in our governance, facilities, operations and faculty development that will most certainly bear fruit over the coming years It s with a great sense of satisfaction that I report some of the most important events at Insper in Last year was a very intense and challenging one for us. We planted many seeds in our governance, facilities, operations and faculty development that will most certainly bear fruit over the coming years. In governance, we changed the composition and duties of our Board of Directors, which this year began to convene more often and to participate more systematically in the Institution s strategic decisions. We also created another governance body, the Assembly of Associates, which is formed primarily by members of the families who were responsible for the donation that led to Insper s transformation into an independent, nonprofit organization. The Assembly of Associates is responsible for approving the nominee for president of Insper and for ensuring that its mission and vision are fulfilled and that sufficient funds are available for this objective. Also in the area of governance, we had the privilege of welcoming Marcos Lisboa, whose successful career includes positions in the academic world as a full professor, in the federal government as secretary of economic policy and in the financial industry as an executive officer at Itaú-Unibanco, who joins Insper as our vice-president. Since October, he has been responsible for the greater part of Insper s operations and for the development of the faculty members dedicated exclusively to our activities. All of these initiatives seek to strengthen the Institution s governance, make it more independent from its founders and contribute to its perpetuity. The expansion of our facilities was concluded in July, when construction was completed on the new building located adjacent to our campus. We added 80% more floor space for new classrooms, a professors lounge, a restaurant, a space for students and the expansion of our library. To temporarily house our undergraduate program in engineering (which we expect to launch in 2015) on our current campus, we decided to lease the two remaining floors of the building, which allowed us to accommodate our Executive Education and Graduate Program activities as well. On the operational front, the highlight was the adoption of a new academic system, Lyceum, after many years of planning and a previous unsuccessful experience. This migration involved the dedication of many people on our team and marked an important step forward in improving the management efficiency of our academic and support activities. In our faculty, the work of professors dedicated exclusively to Insper was divided into two vectors: teaching and research. The former will now have more time dedicated to teaching and a greater emphasis on research focused initially on understanding and solving Brazil s problems. Meanwhile, the latter will have fewer classes to teach and research activities that necessarily involve publishing in top international journals. We believe that by selecting and developing these two profiles we will give our professors a greater range of possibilities for their professional growth and realization at Insper. Having a well prepared, cohesive and motivated faculty is fundamental for enabling us to fulfill our mission of offering a high-quality education and learning system and generating knowledge that is relevant to organizations and to society. Lastly I would like to express my great satisfaction with the Scholarship Program, which was created so that undergraduate students approved in our admissions process are able to attend our School regardless of their income or wealth. Last year, we made our full scholarships non-refundable, which resulted in an increase of three to fourfold in the number of full scholarship students. We also set a new record for donations to the Scholarship Fund and surpassed our target by 54%. This effort is key to generating diversity in our student body and fulfilling our social function. The list of all of the School s accomplishments in 2013 is long. Everyone worked very hard. The year was challenging, yet extremely satisfying. I m deeply grateful to the many people, professors, employees, students, alumni, faculty members, advisors and friends who together form our community and whose dedication to Insper made these accomplishments possible. Cordially, Claudio L. S. Haddad President 6

4 Annual Report 2013 executive committee The Executive Committee is charged with managing Insper s activities in accordance with the guidelines established by the Board of Directors. The Committee is responsible for creating the budget and meeting the goals established in the annual strategic planning. Claudio L. S. Haddad President Carolina da Costa Dean of Undergraduate Programs An eye on the future Governance bodies at various levels participate in strategic definitions and accompany Insper s development. assembly of associates In early 2013, we created the Assembly of Associates, a governance body formed primarily by members of the families responsible for the donation that led Insper to become an independent, nonprofit organization. The Assembly of Associates is responsible for ensuring that Insper s values and mission are upheld and fulfilled and that it has the funds needed for this end. board of directors Claudio L. S. Haddad Cecilia Sicupira Giusti Howard Stevenson Jorge Paulo Lemann Marcel Herrmann Telles Tania Haddad Nobre We also created another governance body, the Assembly of Associates, which is formed primarily by members of the families responsible for the donation that led Insper to become an independent, nonprofit organization Claudio Haddad, President Irineu G. N. Gianesi Dean of New Academic Projects Letícia Costa Dean of Graduate Programs Luca Borroni-Biancastelli Dean of Executive Education Marcia Nizzo de Moura Senior Director of Institutional Development Marcos Lisboa Vice-President Sérgio Lazzarini Dean of Research Degree Programs The Board of Directors was created in 2006 and underwent changes to its composition and duties last year. This body is responsible for selecting the Institution s president, strategic orientation, monitoring the executive committee, approving and monitoring the budget and orienting political, economic and financial matters, including the funding required for maintaining and expanding strategic activities. The Board of Directors also approves the creation of new academic programs. Claudio L. S. Haddad (President) Fábio Barbosa João Fernando Gomes de Oliveira Luis Norberto Pascoal Maurizio Mauro Michael Edgar Perlman Paulo Guilherme Aguiar Cunha Pedro Moreira Salles From left to right: Luca Borroni-Biancastelli, Marcos Lisboa, Sérgio Lazzarini, Carolina da Costa, Claudio Haddad, Letícia Costa, Irineu Gianesi and Marcia Moura 8

5 Annual Report 2013 Applied learning The job market seeks professionals who are capable of working with complex issues, which is a skill also required by entrepreneurs. It s critical that they be proficient in identifying and solving problems, thinking critically, presenting arguments, taking decisions and learning how to learn. For this reason, students in Insper s undergraduate programs are exposed to the real-world problems faced by organizations and society in the courses Effective Problem Solving Program and Problems in Economics. 10 Life on campus Undergraduate Programs Solid and practical development In response to student demands for a stronger connection between them and the School, in 2013 we created Multi Insper, a space with an open door policy that is designed as a relationship and communication channel dedicated to students and their life on campus. The day-to-day activities of Multi Insper feature academic topics, issues related to life on campus, discussions about innovation and projects and anything related to making the Insper Experience even more intense through dialogue between the School and the student body. During the year, our students participated in extracurricular activities that exposed them to new experiences and led them to discover new interests and skills. More than 590 of our students actively participated in Student Organizations. The organizations sponsored debates, consulting projects, actions to promote integration with society and sports activities. AIESEC Insper, Atlética, Bateria Imperial, Diretório Acadêmico Grupo de Ação Social, InFinance, Insper Jr. Consulting, Jornal Opinião and Sementes Culturais organized especially dynamic calendars of activities in At the end of every semester, students and professors organize an exhibition in the School s hallways. The campus was taken over by the exhibition and discussions of studies conducted on a wide range of topics: the crisis in Greece, the 2016 Olympics, the real estate market in Rio de Janeiro and hyperinflation in Germany, among many others. Over 200 projects were presented. For the third straight year, a group of undergraduate students this year represented by Davih Carvalho, Pedro Campos Carvalho, Rafael Monnerat, Raymond Shayo, Victor Rocha de Assis and professor advisor Michael Viriato won the national phase of the CFA Institute Research Challenge. The challenge demanded high analytical capacity and a well-honed team during the presentation. The competition continued in 2014 in the Americas phase held in Denver, Colorado, where the team reached the semifinals. In all, the group competed against 3,700 students representing 825 universities from 59 countries. Effective Problem Solving Program is a course taken in the sixth semester of the Business Administration program. Students are prepared for the experience in their first two years of the program, during which they take courses on statistics and learn how to use the tools for applying the Plan, Do, Check, Act method of problem solving. In the course, students go in the field to put theory into practice and address the real problems of partner companies. In 2013, 198 students formed 38 groups and worked on solutions to issues at the following organizations: Advis Investimentos Ambev Amparo Maternal Amsted Maxion BIG X Picanha BRF Brasil Foods Dpaschoal Farfetch General Electric Grupo Alatur Insper Itaú-Unibanco Natura Porto Seguro Procter & Gamble Qmágico Saint Gobain Ultracargo VLI Votorantim Cimentos Whirlpool The challenges faced by students included enhancing e-commerce performance at Natura, improving water purifier sales at Brastemp and optimizing productivity at the retail stores of Dpaschoal. Meanwhile, the Problems in Economics course taken by students in the sixth semester of their Economics program encourages them to identify, on their own, contemporary dilemmas that require more in-depth analysis: How does inflation influence the government s popularity? Is there a real estate bubble in Brazil? Which factors affect criminality? What determines the formation of political coalitions? and others. Since 2012, each semester the groups develop projects that assess issues likes these and at the end of the process present their conclusions to a panel formed by the chief economists of renowned financial institutions, such as BTG Pactual, Citibank, HSBC, Itaú-Unibanco and Santander, as well as professionals from prestigious consultancies in Brazil. Watch testimonials by students who participated in the 4 th Undergraduate Exposition in 2013 Watch the video presenting the Effective Problem Solving program with testimonials from students and their mentors at the companies Watch the testimonials of students and members of the panel of the Problems in Economics course in 2013 commenting on the project To enrich the debate, the former president and directors of Brazil s central bank and professors, the president and the vice-president of Insper also participated on the panel. Many activities (both inside and outside the classroom) expressed the motivation, drive and perseverance of our undergraduate students and their ability to identify problems and analyze and propose solutions that make everyday life on campus more enriching and dynamic.

6 Annual Report 2013 Certificates Master of Laws An important accomplishment in 2013 was the launch of the Certificate in People Management, which is designed for young professionals seeking to develop the competencies they will need to lead results-oriented, multi-functional teams. The initiative was celebrated with the event Challenges and Outlooks in People Management, which included a lecture by Antonio Salvador, chief people officer at Grupo Pão de Açúcar. In the same year, we introduced the Certificate in Healthcare Management in partnership with Hospital Israelita Albert Einstein (HIAE) for young professionals in the health care industry who aspire to further their knowledge in the area of management. The program expands on our partnership with HIAE for the Executive MBA in Healthcare Management that we have offered since During 2013, we had the opportunity to honor the more than 500 students who concluded the programs Certificate in Business Administration (CBA), Certificate in Financial Management (CFM) and Certificate in Marketing Management (CMM) and joined the ranks of the Insper Alumni Community. The students reunited with their classmates in the Steffi and Max Perlman Auditorium and received just honors for their dedication and resilience. All of them will continue to maintain a relationship with Insper, frequent the campus, participate in institutional projects and perhaps even return to the classroom. I chose the program because of its practical approach supported by a strong theoretical foundation. The program also promotes the exchange of experiences among highly qualified professionals who are active in the market Nelson Tagliaferro Matsuoka CMM 2012 We launched the LL.C. in Corporate Law designed for young law graduates seeking to focus on current legal issues and improving their relationship with clients in the competitive corporate environment. The program offers a comprehensive and practical vision of law. Our students, alumni and professors published ten books in partnership with the publishing house Editora Almedina Brasil. Two big events were held for family members, friends, professors as well as members of the executive committee to recognize the dedication of these authors and the quality of their work. For 2014, the publication of another 15 works is planned. Also in 2013, we organized over 50 examining committees formed by professors from Insper Law and various renowned guests who specialize in the topics of the students monographs. In the examining committees, students reaffirmed their commitment to the development and dissemination of academic production. The fruit of international partnerships, five students participated in extension programs at the University of California in the United States and at Duke University in the United States and in Switzerland. Professor Fábio Soares de Melo participated in the faculty exchange program and lectured on the subject Taxation, Development and Sporting Events in Brazil at the University of St. Gallen in Switzerland. As part of the same exchange program, we received Professor Peter Nobel from the University of St. Gallen and Professor Stefan Voigt from the University of Hamburg in Germany. In the first year, I had contact with business courses that helped me better understand my clients and gave me more arguments that I could use in my day-to-day routine. In the second year, the experience was extremely valid because of the high caliber of the professors and the seminars Alexandre Faro LL.M MBAs In 2013, 20 MBA students and alumni participated in the Darden Insper Program, which is an international extension program that gives participants a rich academic and cultural experience at Darden Business School, one of the most highly respected schools in the United States. Participants took in their baggage the results of their dedication to the program and the desire to learn more about an institution in a region with a rich legacy in U.S. history. To run an architectural design company and make it grow, being creative isn t enough; you also have to be efficient, think in the long term and plan. Completing the MBA program was very important Maraí Valente MBA 2012 In 2013, more than 300 students in the Executive MBA, Executive MBA in Finance and Executive MBA in Healthcare Management programs participated in the graduation ceremonies and celebrated with classmates, family members, professors and deans. As members of the Alumni Community, they can continue to frequent the campus, participate in projects, such as the Alumni Mentoring Program and the Alumni Godfather Program, donate to the Scholarship Fund and participate in events and seminars. In the same year, in an article published on the site Estadão.edu entitled Pós-Graduação e MBA podem ser alternativa para começo de uma nova carreira (Graduate and MBA programs are potential alternatives to launching a new career), the director of Insper s Executive MBA programs, Silvio Laban, analyzed the opportunities for enriching the spectrum offered by MBA programs, commenting, in this case, it ends up being an experience to expand knowledge that imparts greater flexibility. 12

7 Annual Report 2013 Professional Masters We observed an increase in the demand for Professional Masters programs, particularly in Economics, whose applicant/opening ratio increased by 14% in 2013 compared to From among the students who concluded a program last year, 37 dissertations were defended in the Professional Masters in Economics program and 26 in the Professional Masters in Business Administration program. Given the nature of professional masters programs, the topics covered in dissertations are in general highly applicable to the real needs of companies. This increases the level of interest from the media in the findings of studies. Seven articles based on dissertations defended in recent years were published in the period. The works were also recognized by the academic community. In 2013, 11 academic papers by students co-authored with their advisors were accepted in Brazilian and international journals, and another four dissertations received awards or were presented in economics or business administration congresses in Brazil or abroad. At the end of last year, CAPES, the federal agency regulating research degree programs, announced the results of its evaluation for the period The Professional Masters in Economics received the highest possible score of five, as in the previous three-year period. The Professional Masters in Business Administration, which was launched in 2007 and first evaluated in 2012, received a score of four, up from three in the previous evaluation. Every three years, CAPES evaluates the qualifications of the faculty and student body of master s programs, as well as the academic production of students. Dissertations that led to the publication of articles in the media in 2013: DISSERTATION Análise boca a boca negativo sobre valor de mercado das cias telefônicas O Estado de S. Paulo and CBN Madrugada The Impact of Central Bank Interventions Folha de S. Paulo What Comes Around, Goes Around Você S/A Demanda por Meios de Transporte na Grande São Paulo: Uma Análise de Políticas Públicas O Estado de S. Paulo STUDENT (program)/ ADVISOR Fabio Fragoso (MPA)/ Danny Claro Fatima Pereira (MPE)/ Marcelo Moura Sean White (MPA)/ Gazi Islam Carlos Eduardo Lopes (MPE)/ Rodrigo Moita Academic papers arising from dissertations and accepted in academic publications or receiving awards in 2013: DISSERTATION Common Factors and the Exchange rate: results from the Brazilian Case Awards: Best Paper Award 2013 na Academy of International Business, Southeast USA Chapter; Best work presented in the Finance Division at the 2013 National Meeting of the National Association of Graduate Studies and Research in Administration (EnANPAD) Published in: Revista Brasileira de Economia (RBE) Impact of macroeconomic surprises on the Brazilian yield curve and expected inflation Published in: The North American Journal of Economics and Finance STUDENT (program)/ ADVISOR Wilson Felício (MPE)/ José Luiz Rossi Júnior Rafael L. Gaião (MPE)/ Marcelo Moura Executive Education Open enrollment programs Open enrollment programs attracted over 1,300 students to our classrooms in 2013, which represents an increase of 125% from the previous year. Over the year, 15 programs were launched to support professionals in different moments of their careers: Corporate Governance & Compliance Governmental Relations in Brazil Futuring High-Impact Investments Financial Planning Strategic Marketing Innovation & Strategy Law & Organizations Managing Financial Instruments Derivative Instruments Money & Capital Markets Managing Financial Risks Real Options & Investment Valuation Executive Program for Managing Real Estate Companies Managing Services Common Factors and the Exchange Rate: Results from the Brazilian Case Folha de S. Paulo Performances of Brazilian IPOs backed by private equity Valor Econômico Wilson Rafael de Oliveira Felício (MPE)/ José Luiz Rossi Júnior Pedro C. A. Tavares (MPE)/ Andrea Minardi Avaliação do Risco Sistêmico dos Bancos no Brasil Award: 3 rd place in the Febraban V Award in Banking Economics André NG (MPE)/ Marco Lyrio Projetos de PPPS O Estado de S. Paulo and Gazeta do Povo (PR) Rogerio Thamer (MPA)/ Sérgio Lazzarini 14

8 Annual Report 2013 Custom programs for organizations The faculty has in-depth knowledge, the classes are dynamic with a lot of exchange of ideas and experiences and the applied project combined theoretical knowledge with practice Mariana Zaher, former student of the Executive Education Financial Planning program We maintained our international partnerships and received students from a variety of countries to the program Brazil: a view from inside, as well as professors to the programs Futuring and Innovation and Strategy. We also developed programs jointly with renowned schools, such as Managing Real Estate Companies in partnership with the IE Business School of Madrid. The open enrollment programs ranked 38 th in the global ranking published by the newspaper the Financial Times and figured among the top three in South America. The publication highlighted the growth in revenue from these programs, which was one of the three highest in the ranking. Our presence in the corporate market continued to expand last year, with the development of custom programs for 31 organizations, The level of program repurchases reached 80% and we maintained important clients in various industries. Abrasce AMBEV ABI Internacional Brazilian Development Bank (BNDES) Bradesco BRF Brasil Foods CHS Israelita Confederation of Brazil (CONIB) Duratex EMS Gerdau Hospital Israelita Albert Einstein HSBC ING Itaú-Unibanco/Itaú-BBA JBS Johnson & Johnson Jones Lang LaSalle Klabin Latapack-Ball Meio e Mensagem Odebrecht Roche Rodobens Sanofi Santander/Santander Financiamentos Sodexo Syngenta TOTVS Toyota YPO-WPO For the seventh straight year, the custom programs figured in the ranking published by the Financial Times. In 2013, our programs ranked 36 th and were among the three best in South America. The ranking is becoming more and more global and competitive, with more intense participation by top business schools in Europe and the United States, and more recently in Asia and Africa. Once again, Insper placed among the top schools in Latin America in the Financial Times ranking, which is an international reference Luca Borroni-Biancastelli, Diretor Acadêmico de Educação Executiva Faculty Adalto Barbaceia Gonçalves MBA - University of California, Los Angeles Adhemar Villani Junior Ph.D. in Economics - University of Pennsylvania Adrian Kemmer Cernev Doctor of Business Administration - FGV-SP Adriana Bruscato Bortoluzzo Doctor of Statistics - USP Adriano José da Silva Neves Master of Engineering - IPT Afonso Carlos Braga MBA - Warwick Business School Alex Manduca MBA in Marketing - Insper Alexandre Demetrius Doctor of Commercial Laws - USP Alexandre Jorge Chaia Master of Business Administration - USP Alexandre Schartzman Doctor of Economics - Univeristy of California Aloisio Bueno Buoro Master of Business Administration - USP Alvaro Cardoso Armond Master of Business Administration - Universidade Presbiteriana Mackenzie Ana Helena de Campos Doctor of Physics - USP André Antunes Soares de Camargo Doctor of Commercial Laws - USP André Luis de Castro Moura Duarte Doctor of Business Administration - FGV-SP Andrea Maria Accioly Fonseca Minardi Doctor of Business Administration - FGV-SP Angela de Souza Menezes Master of Production Engineering - PUC-RJ Angelo Corsetti Bachelor of Economic Sciences - USP Antonio Carlos Rosso Junior Master of Systems Engineering - USP Antonio Zoratto Sanvicente Ph.D. in Business Administration - University of Stanford 16

9 Annual Report 2013 Artur Rothstein Barreto Parente Ph.D. in Economics - University of California, Berkeley Auro Key Honda Master of Social Psychology - PUC-SP Bruno Costa Simões Doctor of Philosophy - USP Bruno Silva Martins Doctor of Economics - FGV-RJ Camila de Freitas Souza Campos Ph.D. in Economics - Yale University Camila Pereira Boscov Doctor of Controllership and Accounting - USP Carla Ramos Ph.D. in Business Administration University of Bath Carlos Afonso Caldeira Filho Master of Business Administration - FGV-SP Carlos Alberto Furtado de Melo Doctor of Social Sciences - PUC-SP Carlos Roberto Francisco Bara Master of Business Administration - FGV-SP Carolina da Costa Ph.D. in Cognition and Learning Rutgers, The State University of New Jersey Charles Kirschbaum Doctor of Business Administration - FGV-SP Danny Pimentel Claro Ph.D. in Business Administration - Wageningen University David Kallas Master of Business Administration - USP Denise Aparecida Manfredi Master of Health Psychology - UMESP Ecléa Zugman Hauber Specialist in Biology - USP Edélcio Koitiro Nisiyama MBA University of Chicago Eduardo Augusto Rissi Doctor of Sciences - USP Eduardo Correia de Souza Doctor of Economics - UFRJ Eduardo de Carvalho Andrade Ph.D. in Economics - University of Chicago Eduardo Franco Luzio Ph.D. in Economics University of Illinois at Urbana-Champaign Eduardo Pozzi Luchezzi Doctor of Business Administration - USP Eduardo Rossit Padilha Specialist in Finance - USP Eric Barreto de Oliveira Master of Controllership and Accounting - USP Fabio de Biazzi Doctor of Production Engineering - USP Fábio Matuoka Mizumoto Doctor of Business Administration - USP Fabio Orfali Master of Mathematics - USP Fabio Pelicano Borges Vieira Bachelor of Aeronautical Engineering - ITA Fabio Ribas Chaddad Ph.D. in Agricultural Economics University of Missouri Fabio Soares de Melo Specialist in Tax Law - PUC-SP Fernando Castro de Campos Roriz Doctor of Economics - PUC-RJ Fernando Ribeiro Leite Neto Doctor of Social Sciences - PUC-SP Flávia Ferreira Piazza Master of Business Administration - Ibmec-RJ Flavio Kezam Malaga Doctor of Finance - USP Flavio Romero Macau Doctor of Business Administration - FGV-SP Frederico Augusto Alem Barbieri Doctor of Mechanical Engineering - USP Gazi Islam Ph.D. in Organizational Behavior Tulane University George Ohanian Doctor of Business Administration - USP George Paulus Pereira Dias Master of Production Engineering - USP Giancarlo Greco MBA Duke University Guilherme Athia Specialist in Marketing - ESPM Guilherme de Moraes Attuy Doctor of Economics - USP Guilherme Fowler A. Monteiro Doctor of Business Administration - USP Guilherme Silveira Martins Doctor of Business Administration FGV-SP Gustavo Rodrigues Ortega Master of Strategic Controllership and Accounting FECAP Guy Cliquet do Amaral Filho Master of Engineering - USP Hedibert Lopes Doctor of Statistics and Decision Theory Duke University Heleno Piazentini Vieira Master of Economics - FGV-SP Heloísa Maria Domingues Neves Doctor of Design and Architecture - USP Henrique Machado Barros Ph.D. in Business Administration - University of Warwick Humberto Dantas Doctor of Political Science - USP Irineu Gustavo Nogueira Gianesi Master of Production Engineering - USP Ivanildo Dias de Lima Master of Sciences - USP Ivo Waisberg Doctor of Laws - PUC-SP João Luis Mascolo Doctor of Economics - PUC-RJ João Manoel Pinho de Mello Ph.D. in Economics - Stanford University José Carlos A. Luxo Doctor of Business Administration - USP José Carlos Tiomatsu Oyadomari Doctor of Controllership and Accounting - USP José Heleno Faro Doctor of Mathematic Economics - IMPA José Luiz Rossi Junior Ph.D. in Economics - Yale University José Valério Macucci Master of Business Administration - FGV-SP Juan Pedro Jensen Perdomo Doctor of Economics - USP Juliana Inhasz Doctor of Economics - USP Lars Meyer Sanches Doctor of Civil Engineering - UNICAMP Leni Hidalgo Nunes Doctor of Business Administration Université de Pau et dês Pays de L Adour Leonardo Fabris Lugoboni Master of Business Administration - USCS Leonardo Pagano Doctor of Business Economics - FGV-SP Leonel Molero Pereira Doctor of Business Administration - USP Leonidas Sandoval Junior Ph.D. in Mathematics - University of London Leticia Costa MBA Cornell University Liao Yu Chieh MBA in Finance - Insper Luca Borroni-Biancastelli Doctor in Economics Universitá Commerciale Luigi Bocconi 18

10 Annual Report 2013 Lucia Guilhoto Ph.D. in Business Administration (Marketing) Università Commerciale Luigi Bocconi Luciana Carvalho de Mesquita Ferreira Ph.D. in Business Research Erasmus University Rotterdam Luciana Yeung Luk Tai Doctor of Economics FGV-SP Luciano Marques de Araújo Doctor of Business Administration Universid ad Politécnica de Catalunya Luciano Pereira Soares Doctor of Electrical Engineering USP Luis Claudio Montoro Mendes Master of Laws - Insper Luis Fernando Longuini Cossi Bachelor of Production Engineering - USP Luiz Fernando Andreotti Turatti Ph.D. in Business Administration University of St. Gallen Luiz Francisco Modenese Vieira Ph.D. in Transport Systems Massachusetts Institute of Technology Mara Behlau Doctor in Speech and Language Pathology Universidade Federal de São Paulo Marcelo Hiroshi Nakagawa Doctor of Production Engineering - USP Marcelo José Carbonari Doctor of Nuclear Sciences - USP Marcelo Leite de Moura e Silva Ph.D. in Economics - University of Chicago Marcelo Rodrigues dos Santos Doctor of Economics - FGV-RJ Marco Antonio Leonel Caetano Doctor of Aeronautical and Mechanical Engineering - ITA Marco Aurélio Lima de Queiroz Doctor of Business Administration - FGV-SP Marco Bonomo Ph.D. in Economics - Princeton University Marco Túlio Pereira Lyrio Ph.D. in Economics Katholieke Universiteit Leuven Marcos Lisboa Ph.D. in Economics - University of Pennsylvania Marcos Rodrigues de Lara Doctor of Social Sciences - PUC-SP Marcos Veçoso Master of Health Economics and Pharmaeconomics Universitat Pompeu Fabra Marcus Sousa Soares Bachelor of Psychology Marcus Vinicius Lopes Ramos Gonçalves Master of Laws - PUC-SP Maria Aparecida Rhein Schirato Doctor of Education - USP Maria Cristina Nogueira Gramani Doctor of Engineering - UNICAMP Maria Kelly Venezuela Doctor of Statistics - USP Marielza Cavallari Master of Business Administration - FGV-SP Marilda Peres Camacho Andrade MBA Executivo em Marketing - Insper Mario Sergio Kojima MBA - University of Southern California Marisa Villas Bôas Dias Master of Business Administration - USP Marta de Campos Maia Doctor of Business Administration - FGV-SP Maurício Ferreira Doctor of Mechanical Engineering USP Mauricio Rocha Alves de Carvalho MBA - University of Pennsylvania Maurizio Mauro Bachelor of Business Administration - FGV-SP Michael Viriato Araújo Doctor of Systems Engineering - USP Naercio Aquino Menezes Filho Ph.D. in Economics - University of London Nelson Mendes Cantarino Doctor of Social History - USP Nilton Deodoro Moreira Cardoso Junior Doctor of Economics - Universidade de Paris I Otto Nogami Master of Economics Universidade Presbiteriana Mackenzie Patricia da Cunha Tavares Doctor of Business Administration - FGV-SP Patricia Portella Prado Galhano Doctor of Business Administration - USP Paulina Alejandra Achurra Burgos Ph.D. in Chemical Engineering - Stanford University Paulo Beltrão Fraletti Doctor of Business Administration - USP Paulo José de Azevedo Master of Economics - Insper Paulo Vieira de Campos Master of Educational Psychology - PUC-SP Priscila Borin de Oliveira Claro Doctor of Business Administration - UFL Priscila Fernandes Ribeiro Master of Business Economics - FGV-SP Rafael Paschoarelli Veiga Doctor of Business Administration - USP Raul Amaral Rego Doctor of Business Administration - USP Raul Ikeda Gomes da Silva Master of Electronic and Computer Engineering - ITA Regina Carla Madalozzo Ph.D. in Economics - University of Illinois Regis Fernando de Ribeiro Braga Master of Accounting and Actuarial Sciences - USP Ricardo Dias de Oliveira Brito Doctor of Economics - FGV-RJ Ricardo Goulart Serra Doctor of Business Administration - USP Ricardo José de Almeida Doctor of Business Administration - USP Ricardo Machado Doctor of Social Sciences - PUC-SP Ricardo Mollo MBA University of Dallas Ricardo Rocha Doctor of Business Administration - USP Rinaldo Artes Doctor of Statistics - USP Roberta Muramatsu Ph.D. in Economics Erasmus University Rotterdam Roberto Anis Calfat Doctor of Production Engineering - USP Roberto Dumas Damas Master of Economics - University of Birmingham Rodrigo Menon Simões Moita Ph.D. in Economics - University of Illinois Rodrigo Takashi Okimura Doctor of Electrical Engineering - USP Rogério da Costa Monteiro Master of Economics - Insper Romeo Deon Busarello Master of Business Administration - PUC-SP Ronnie Maschk Specialist in Project Management Fundação Vanzolini - USP Roseli Morena Porto Doctor of Business Administration - FGV-SP Sandra Gioffi Specialist in Psychology - Universidade Gama Filho ` Sandro Magalhães Manteiga Master of Mathematical Modeling in Finance - USP Sérgio Giovanetti Lazzarini Ph.D. in Business Administration Washington University, St. Louis 20

11 Annual Report 2013 Sergio Ricardo Martins Master of Statistics - USP Andréia Cristina Bezerra Doctor of Commercial Law - USP Luiz Fernando Mussolini Junior Master of Public Law - PUC-SP Taimi Haensel Master of Laws - Insper Silvia Antonio Sfeir Master of Business Administration - FECAP Camila Vergueiro Master of Laws - PUC-SP Marcel Gomes Bragança Retto Master of Commercial Laws - USP Thiago Sandim Bachelor of Laws - PUC-USP Silvio Abrahão Laban Neto Doctor of Business Administration - FGV-SP Daniel Kalansky Doctor of Commercial Laws - USP Marcelo Vieira Von Adamek Master of Commercial Laws - USP Valdir Carlos Pereira Filho Master of Laws - University of London Silvio Possa MBA - FIA Daniel Martins Boulos Doctor of Civil Law - PUC-SP Marcelo Godke Veiga Master of Laws - Columbia University Wilson R. Ometto Specialist in Controllership - FIPECAFI/USP Tadeu Aparecido Pereira da Ponte Master of Mathematics - USP Tatiana Iwai Doctor of Business Administration - FGV-SP Tatiana Terabayashi Melhado Doctor of Statistics - USP Tiago Fischer Ferreira Doctor of Business Administration - USP Timothy Altaffer MBA New York University Vinícius de Bragança Müller e Oliveira Master of Economics - UNESP Vinicius Licks Doctor of Electrical Engineering University of New Mexico Vitoria Cristina Cardoso Saddi Ph.D. in Economics University of Southern California Vivian Iara Strehlau Doctor of Business Administration - FGV-SP Donald Mac Nicol Bachelor of Business Administration - FGV-SP Douglas Yamashita Doctor of Tax Laws - USP Eduardo Montenegro Dotta Bachelor of Laws - PUC-USP Fabiano Del Masso Doctor of Laws - PUC-SP Fabio Eduardo de Pieri Spina Master of Laws (U.S. law) Columbia University German Alejandro San Martins Fernandez Master of Tax Law - PUC-SP José Dutra Vieira Sobrinho Specialist in Accounting Sciences - USP José Luiz Conrado Vieira Doctor of Laws - USP José Romeu Amaral Master of Laws Northwestern University José Virgílio Enei Master of Commercial Laws - USP Marco Antonio Bevilaqua Master of Civil Law - PUC-SP Marcos Cavalcante de Oliveira MBA University of Pennsylvania Maria Rita Ferragut Doctor of Tax Law - PUC-SP Marina Anselmo Master of Laws (Banking and Capital Markets) University College London Miguel Tornovsky Master of Laws - Columbia University Paulo Jorge Scartezzini Doctor of Civil Laws - USP Pedro Whitaker de Souza Dias Master of Laws - University of Pennsylvania Plinio José Lopes Shiguematsu Master of international Law - USP Renato Nunes Doctor of Tax Laws - PUC-SP Ricardo Hiroshi Executive MBA - Insper Guest Professors / Executive Education Alejandro Pinedo Pursuing a Masters in Sustainable Business University of Cambridge Ana Paula Pinho Candeloro Pursuing a Masters in Sustainable Leadership University of Cambridge Daniella Giavina Bianchi Bachelor of Advertising and Marketing - ESPM Fabio Schenberg Frascino MBA in Finance - Insper Hélio Mariz de Carvalho Bachelor of Architecture and Urbanism - USP Marina Pinhão Coelho Araújo Doctor of Criminal Law - USP Rodrigo Amantea de Andrade Pinto Master of Business Administration - FGV-SP List of active professors in the first semester of Guest Professors / Lecturers Alberto Macedo Doctor of Economic, Financial and Tax Law - USP Alvaro Taiar Bachelor of Laws - USP Ana Luiza Salles Lourenço Specialist in Tax Law - FGV-SP and IBET André Franco de Moraes Executive MBA in Finance - Insper Kleber Luiz Zanchim Doctor of Laws - USP Lior Pinsky Master of Laws - London School of Economics Luis Fernando Camargo Bachelor of Accounting Sciences - Faculdade Tibiriçá Luis Gustavo Haddad Master of Civil Laws - USP Rodrigo Fernandes Rebouças Master of Social Relations Law - PUC-SP Rogério Garcia Peres Master of Tax Laws - PUC-SP Rubens Carmo Elias Filho Doctor of Social Relations Law - PUC-SP Sergio Freitas da Costa Master of Laws - University of Michigan 22

12 Annual Report 2013 Relationship with the market Students are constantly exposed to the opportunities and challenges of the labor market through the Career Center, which maintains partnerships with over 3,000 organizations. This contact begins when students join the School and continues after they graduate and become part of the Alumni Community. events recruitment fairs In 2013, Insper s Recruitment Fairs attracted 52 companies to present their trainee and internship programs to 860 students. As in every edition, graduates from our undergraduate programs participate in these events as employers, seeking to share their experiences with those who are about to embark on their careers. Watch testimonials by students who participated in the 14th Recruiting Fair in 2013 talent network fair Insper s alumni participated in the 1st Talent Network Fair along with headhunters, HR consulting firms and coaches to discuss market trends and opportunities, plan their careers and activate their relationship networks. Watch testimonials by students who participated in the 14th Recruiting Fair in 2013 meeting with employers Partner companies and Insper professors gather over the course of the year to discuss labor market trends and research studies related to the topic. Three of these events were held in 2013 and attracted the participation of companies such as: Booz & Company, BRMalls, Bunge, Career Center, Gardz, Itaú-Unibanco, Magazine Luiza, Mariaca, Michael Page, Natura, Page Talent, Rio Bravo Investimentos, Santander, Standard Chartered Bank, Stern Stewart & Co., SulAmérica, UBS, Unilever and Votorantim. career in focus Students and alumni met with professors and experts to debate the professional challenges posed by various sectors of the economy. The fields are selected by students and last year comprised: Financial Market, Entrepreneurship, Agribusiness, Corporate Finance, Leadership and Decisionmaking, Pharmaceutical, Personal Care and Cosmetics, Channels, Distribution and Trade Marketing. guidance alumni mentoring program In the sixth edition of the Program, 25 alumni served as volunteer mentors to undergraduate students nearing graduation. The students were able to learn more about the job market, while the mentors had an opportunity to enhance their leadership, negotiation and communication skills. Watch students and alumni who participated in the program recount their experiences guidance tools orientation sessions The Career Center also offers orientation sessions to students and alumni to discuss professional dilemmas and opportunities. directory of Insper graduates A database of résumés of Insper graduates, the Directory is an important relationship channel between these former students and the job market. career opportunities board Companies recruiting Opportunities announced Opportunities in management positions ratio of other positions 39% % 2012 Professional opportunities for undergraduate students over openings 11 openings per student Students graduating in 2013 had on average 3 professional experiences during their program 24% acknowledgements Since the program s creation in 2008, 80 alumni have shared their knowledge and career experiences with undergraduate students entering the labor market: Adriana Barreta Adriana de Campos Leal Andreoli Adriano Ammirati André Chamadoira Carracedo Antonio Carlos Derani Ana Lucia Frony de Macedo Alexandre Hideo Yoda Alexis Pizzinari Campos Anderson Nogueira Borges Antônio Carlos Rodi Arnaldo José Mamede Inácio Beatriz de Toledo Cullen Camilo H. de Syllos Carla Peron Meirelles Celia Pizzi Celso dos Santos Celso H. Maehata Christiane Cobas Pedreira Clarisse Barreto Claudia C. Primo Claudio Kassab Christian Timotti Christiane Cobas Pedreira Cristiane M.G. Mondaini Daniel Panico Gorayeb Daniel Pini Nader Dario Almeida Albagli Denis Fernando Botini Batista Edson Gomes Ribeiro Eduardo Melchert Grell Eliane Aparecida S. Laurelli Emilia M.Y. Cheung Fabricio de Moura Fatima M. M. N. Renzetti Fernando Lucio da Fonseca Gabriel A. M. de Barros Gabriel Severino da Silva Gedival M. Silva Jr Giuliano de Oliveira Mourão Graciela Civolani Cordts Henrique C. Mariano Henrique Lewi Humberto José Carneiro Ivar Nantes Tagara João Gilberto Pinheiro João Marcelo de Melo Teles José Antonio Maluf de Carvalho Jose Geraldo Setter Filho José Valmir da Silva Katia Korovin Lourdes Aparecida Sangiuliano Luis F.G.Rodrigues Manoel P. de Queiroz Marcelo do Amaral Ferro Marcelo Limaverde Figueiredo Márcia de Almeida Fernandes Marcio Alexandre Corazza Marcio R. Lisa Marco A. R. Azevedo Garcia Marco Oliver Anton Maria Cristina Marinho de Moraes Maria Helena Simões Vargas Mario Sergio Tampellini Martin Klos Rahal Patricia da Silva Herbas Palomo Paulo C. Freitas Raquel B. B. Sore Reinaldo Mauricio Cunha Renato Skaf dos Santos Ricardo Siniscalchi de Souza Roberta Oliveira Zara Rodrigo Cesar Santoro Rodrigo Messias Ventura Ronaldo Ricioli Rosangela Colella Ferro Rosanne C. Jorge Sara Martins Solange Barbosa Pinheiro de Almeida Thiago Passone Wellington L. Souza 24

13 Annual Report 2013 UNDERGRADUATE International Exchange Programs 90 students attended 29 schools in 17 countries 53 students from 15 schools coming from 12 countries GRADUATE PROGRAMS Six-month Exchange and International Extension Programs 36 students attended 8 schools in 5 countries 11 students from 5 schools coming from 4 countries International Experience Students who won the Empreenda Insper competition in 2013 Entrepreneurship in action Entrepreneurship actions at Insper are included in the classroom, in extracurricular activities and in an extensive calendar of events. In 2013, the Center for Entrepreneurship expanded its focus, with its name changing to the Center for Entrepreneurship and Innovation. One of the highlights of the year was the 7th edition of Empreenda Insper, a competition of business plans in which 97 undergraduate students, graduate students and alumni participated. For the second straight year we participated in Movimento Empreenda in partnership with Editora Globo. The initiative provides orientation to those who dream of starting their own business or who already run their own business. As educational partner, Insper acted as the curator of two major projects: Find an Angel, a contest that identifies business ideas in their preliminary stages to present them to angel investors, and the Successful Entrepreneur Awards, which recognizes exceptional entrepreneurs. The award was featured in the cover article of the December edition of the magazine Pequenas Empresas, Grandes Negócios. Creating innovative professionals, as our mission states, requires an entrepreneurship learning model based on experience that doesn t just focus on creating new business, but also on developing the skills needed to transform ideas into action in any organizational environment Carolina da Costa, Dean of Undergraduate Programs EXECUTIVE EDUCATION 55 students participated in the program Brazil: a view from inside, of whom 25 were from ESCP Europe in France and 30 were from the Lagos Business School in Nigeria. Evolution in partnerships: partnerships in 16 countries partnerships in 18 countries partnerships in 16 countries Our students who participated in exchange programs, international students from 14 countries and representatives from eight partner institutions gathered at the 1 st Insper International Fair to present exchange programs to undergraduate students. Students also had an opportunity to participate in the Ibero-Americanas Santander Universidades Scholarship Progam, which helps undergraduate students from universities in the Iberian Peninsula and the Americas to study abroad. To encourage scholarship students to join international exchange programs, Insper offered them an added benefit. Of the five students selected, three received scholarships and are currently studying in six-month programs in Mexico and Spain. New partnerships for summer programs were forged to offer undergraduate and graduate students experiences in short-term study programs at international universities. United States: University of Columbia, University of California Berkeley, Stanford University Canadá: Canada: University of Victoria (English Language Programs) France: IESEG School of Management Israel: The Hebrew University of Jerusalem The School currently maintains 45 cooperation agreements with universities in 18 countries. Visits and extension programs at Insper 299 students from partner schools participated in extension programs or custom academic activities. 26

14 Annual Report 2013 Scholarship program Supported by the Scholarship Fund, the Scholarship Program offers opportunities to young students with high academic capacity who require financial assistance to pursue their undergraduate studies at Insper. The program s sustainability is guaranteed by three funding sources: 1% of the revenue from undergraduate programs R$555,000 Repayment of scholarships R$997,000 Donations R$1.08 million Last year, Insper s full scholarships became non-repayable, which means that current and future students, as well as scholarship students who have already graduated, no longer have to repay their scholarships. Types of scholarships Non-repayable full scholarships 100% tuition subsidy for students with household income of up to 1.5 times the minimum wage who studied in the public school system or received scholarships to study at private schools. Non-repayable partial scholarships Tuition subsidy of 30% to 80% for students with household income of up to eight minimum wages. Program s impact in 2013: Impact since its creation in 2004: Campus expansion To meet the growing demand for new academic programs and expand the activities of our Research Centers, the campus was expanded by 8,000 square meters, which increased its effective space by 80%. The expansion project brought new rooms and common areas and allowed the Telles Library to be expanded. Now a restaurant, multi-sport game court, new rooms for Student Organizations, the Career Center and the Multi Insper space are all on the same floor. A new lounge was designed for professors as well as new offices exclusively for full-time professors. We ended 2013 occupying eight of the building s 11 floors. The other floors are being renovated in accordance with a design developed for the specific needs of Executive Education programs. 116 scholarship students 14 full 102 partial Average subsidy: 65% 235 students supported 127 graduates 40% repaid their scholarships Alumni community R$2,777, repaid R$6,896, donated R$2,962, transferred from the revenue of undergraduate programs The relationship that students share with their colleagues and professors does not end once they graduate. Participating in the Alumni Community means staying in contact with your colleagues and professors and keeping up to date on events at Insper. In 2013, the Alumni Community surpassed the mark of 10,000 members. Over the course of the year, former students joined the Visiting Committee and participated in the Alumni Mentoring Program and Godfather Program and also contributed to the process to select new scholarship students. Many alumni also multiplied their experiences through interviews to the media and Insper s communication vehicles, events at Insper and visits to promote the institution. 28 Friends of Insper Sponsors Of the new classrooms, three were sponsored: the Paulo Renato Souza Room was sponsored by the Haddad family and Jorge Paulo Lemann; the Luiz Martins de Souza Dantas Room was sponsored by the Brazilian Jewish Community; and the Eudoro Villela Room was sponsored by Itaú-Unibanco. In 2013, we completed the first phase of the process to raise funds for our new Engineering programs, for which we received support from the following institutions: BTG Pactual, Camargo Corrêa, Fundação Bradesco, Fundação Brava, Fundação Lemann, Gerdau, Grupo Ultra, Itaú-Unibanco and Votorantim. Together they donated R$84.5 million, with this figure surpassing the target of R$80 million. Part of the funds raised was used to purchase the lot located adjacent to the School s campus where the new building will be erected. 11,120 members 18 alumni godfathers 80 alumni mentors 113 donors to the Scholarship Fund R$275,000 donated to the Scholarship Fund 163 enrollments in new programs I serve as a mentor because I believe that the potential of Insper and its students should be extended to as many people as possible. I want to give back what I got from the School in some way, even though I wasn t a scholarship student Rafael Coelho ADM 2007 is a godfather alumnus and donor to the Scholarship Fund. Launched in 2013, the Alumni Godfather Program encourages alumni to act as counselors and contribute to the housing and food costs of full scholarship students.