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News Release

Peterson Institute Adds Fraga and Inaba to Board

February 28, 2012

Contact:    Steven R. Weisman    (202) 454-1331

Washington, DC—The Peterson Institute for International Economics is pleased to announce the addition of two new members to its Board of Directors: Arminio Fraga Neto, Chief Investment Officer and founding partner of Gavea Investments and former Governor of the Central Bank of Brazil, and Yoshimi Inaba, President and Chief Operating Officer of Toyota Motor North America. They have served with the highest distinction in varying fields of endeavor, including business, government, and the academic world. Their appointment reflects the Peterson Institute’s commitment to maintaining a truly international board, with both the expertise and practical experience that will help the Institute address the challenges facing the world economy.

Yoshimi Inaba is President and Chief Operating Officer of Toyota Motor North America, Inc., the holding company for Toyota’s North American sales, engineering, and manufacturing operating units. He is also Chairman and Chief Executive Officer of Toyota Motor Sales, U.S.A., Inc., Toyota’s US sales, marketing, distribution, and customer service arm in Torrance, CA. In these roles, Mr. Inaba is responsible for Toyota’s North American sales, marketing, and external affairs. He also serves as an executive advisor of Toyota Motor Corporation, Toyota’s parent company in Japan.

Mr. Inaba joined Toyota Motor Corporation in 1968 after graduating from Japan’s Kyoto University. He worked for three years at Toyota’s German sales company and spent five years in the Europe Division. He served as senior vice president of Toyota Motor Sales in the 1990s and became a member of the corporation’s Board of Directors (with managing director status), where he oversaw European and African operations. In 1999, Mr. Inaba moved back to the United States to become president of Toyota Motor Sales, and in June 2003, he was made a senior managing director at Toyota Motor Corporation. In June 2005, he became an executive vice president, focusing on Toyota’s Chinese operations. Mr. Inaba also earned a master’s degree in business administration from Northwestern University’s Kellogg School of Business in June 1976.

Arminio Fraga Neto is Chief Investment Officer at Gavea Investments in Rio de Janeiro, Brazil, where he has been a founding partner since 2003. He has also served as chairman since 2009 of BM&F Bovespa, a private company that operates one of the largest securities exchange organizations in the Western Hemisphere. He was governor of the Central Bank of Brazil from 1999 through 2002 and before that was managing director of Soros Fund Management in New York (1993–99). He was vice president of Salomon Brothers in New York (1989–92), and a visiting assistant professor in the finance department of the Wharton School at the University of Pennsylvania (1988–89).

Mr. Fraga received his PhD in economics from Princeton in 1985 and his undergraduate and master degrees in economics from Catholic University of Rio de Janeiro. He served as chief economist of Banco de Investimentos Garantia, Brazil (1985–88). Among many academic positions, Mr. Fraga has served as adjunct professor of economics at Catholic University of Rio, and adjunct professor of international affairs at Columbia University in New York (1993–99). He serves on the International Council at JPMorgan Chase & Co., and is a member of the Group of Thirty, a private, nonprofit, international body of representatives of the private and public sectors and academia.

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About the Institute

The Peter G. Peterson Institute for International Economics is a private, nonprofit, nonpartisan research institution devoted to the study of international economic policy. Its founding director is C. Fred Bergsten. Since 1981 the Institute has provided timely and objective analysis of, and concrete solutions to, a wide range of international economic problems. It is one of the very few economics think tanks widely regarded as “nonpartisan” by the press and “neutral” by the US Congress, and its research staff is cited by the quality media more than that of any other such institution. Support is provided by charitable foundations, private corporations, and individual donors, and from earnings on the Institute’s publications and capital fund. It moved into its award-winning new building in 2001, and celebrated its 25th anniversary in 2006 and adopted its new name at that time, having previously been the Institute for International Economics.