HSBC’s Andre Brandao picked to head Banco do Brasil: reports

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HSBC's Andre Brandao picked to head Banco do Brasil: reports
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Brazil’s authorities has chosen Andre Brandao, head of worldwide banking and markets for the Americas at HSBC within the nation, as the brand new chief government of statecontrolled lender Banco do Brasil SA, native media stories stated on Saturday.

  • Reuters
  • Last Updated: August 1, 2020, 11:02 PM IST

BRASILIA Brazil’s authorities has chosen Andre Brandao, head of worldwide banking and markets for the Americas at HSBC within the nation, as the brand new chief government of state-controlled lender Banco do Brasil SA, native media stories stated on Saturday.

Brandao will exchange Rubem Novaes, who tendered his resignation final month and can depart later in August.

Banco do Brasil and the Economy Ministry didn’t reply instantly to a request for remark, though earlier on Saturday a ministry spokesperson stated they might not affirm something but.

Local media, together with newspapers Valor Economico and O Globo, reported that Economy Minister Paulo Guedes has given the inexperienced mild to Brandao’s nomination, nevertheless it is not going to be formally introduced for just a few days.

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The authorities has been looking for as a substitute executives with backgrounds each in finance and know-how to deal with fiercer competitors amongst banks and fintechs.

Disclaimer: This publish has been auto-published from an company feed with none modifications to the textual content and has not been reviewed by an editor



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