BRAZIL BANKING: In with the new

BRAZIL BANKING: In with the new

Brazil People

Both of Brazil’s leading private sector banks are seeking new CEOs as long-time leaders Luiz Carlos Trabuco Cappi of Bradesco and Roberto Egydio Setubal of Itaú Unibanco head into their imminent retirements. The transitions come as the banks, Brazil’s two largest by total assets, face integrations of significant acquisitions and a difficult economy. “I feel comfortable with the planned schedule,” a relaxed Setubal tells LatinFinance after announcing the bank’s fourth quarter results in February. The 61-year old banker will have to retire in April 2017, according to Itaú’s rules, which were amended two years ago to allow Setubal to stay on for two more years. Despite the deep recession in Bra

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