Brazil’s government on Wednesday night named new CEOs for two critically important government-run banks as newly installed Finance Minister Henrique Meirelles consolidates his position as the nation’s chief economic policy-maker. Gilberto Occhi will be the new President and CEO of Banco do Brasil, Brazil’s largest retail bank. Occhi is a key political supporter of Brazilian Acting President Michel Temer. He is a former Interior Minister and a former Cities Minister. The Caixa Econômica Federal (CEF) will be headed by new President and CEO Paulo Cafarelli, an executive at steel maker CSN and a former Deputy Finance Minister. The CEF is Brazil’s largest mortage bank. The two men replace CEOs picked by President Dilma Rousseff, now sidelined by an impending impeachment trial. They were Alexandre Abreu at the Banco do Brasil and Miriam Belchior at CEF.
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