SAO PAULO (Reuters) - Banco do Brasil SA (SA:BBAS3) on Monday merged a division overseeing human resources into its retail banking unit in a move to raise efficiency as Latin America's largest economy faces a challenging outlook.
Brazil's largest bank by assets also nominated Paulo Roberto Ricci as senior vice president overseeing the merged retail banking and people management division, according to a regulatory filing. Ricci will replace Alexandre Abreu, who was previously head of retail banking and was named chief executive officer earlier this year at the state-controlled bank.
A new vice presidency slot was created to oversee the infrastructure, services and operations division, which will be headed by former government minister Cesar Borges, the filing said.