BB Consorios director leads Banco do Brasil

BB Consorios director leads Banco do Brasil

The new CEO of Banco do Brasil (BB) will be Fausto Ribeiro, the current CEO of BB Administradora de Concorios. He will succeed André Brando, who resigned today (18) after less than six months in charge of the institution.

The Ministry of Economy confirmed Ribeiro’s nomination this evening. Banco’s career staff has been in Brasil since 1988, with the future president taking office on 1 April. He will be the third chairman of the institute in the current government after Rubem Noukes, who was in Brando from January 2019 to September 2020.

Appointed by the ministers Paulo Geddes and the president of the Federal of Caixa Ekonamica, Pedro Guimares, Fausto Ribeiro has served as executive manager at Bordeaux and the specific projects of Banco do Brasil. From May 2013 to June 2016, he was the general director of BB’s unit in Spain.

Ribeiro held the executive management of the channel unit from June 2016 to February 2019 and the executive management of the accounting department from March 2019 to August 2020. Since September last year, he was assistant in-charge of the consortia’s territory.

A future president of BB, graduated in law and business administration, has an Executive MBA in Finance at Ibmake and a Master’s degree in Economics in the Minerva Program at George Washington University in the United States.

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Sarah Gracie

About the author: Sarah Gracie

Sarahis a reporter covering Amazon. She previously covered tech and transportation, and she broke stories on Uber's finances, self-driving car program, and cultural crisis. Before that, she covered cybersecurity in finance. Sarah's work has appeared in The Wall Street Journal, Bloomberg, Politico, and the Houston Chronicle.

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