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The Press Secretary of the Presidency of the Republic reported on Thursday (14) that President Jair Bolsonaro asked the Minister of Economy, Paulo Guedes, to resign from the president of Banco do Brasil, André Brandão.
According to the secretariat, there is no official statement of the resignation because the minister seeks to reverse the request.
The resignation was motivated, according to the secretariat, by the announcement of the closure of some 200 branches and the restructuring plan that provides for a voluntary resignation program with the aim of cutting 5,000 vacancies. Bolsonaro did not agree with the measures.
Ana Flor: ‘Bolsonaro evaluates change of president of Banco do Brasil’
This Thursday morning, Banco do Brasil informed the market through the disclosure of a “relevant fact” to the Brazilian Securities and Exchange Commission (CVM) that it had not received any formal communication from the “controlling shareholder” (the federal government) on the decision regarding the termination of the institution.
According to Ana Flor’s blog, Bolsonaro was irritated by the announcement, made earlier this week, of the closing of branches and the voluntary dismissal program.
According to the blog of Valdo Cruz, presidential assistant, Bolsonaro is pressing for the plan to be suspended, or at least postponed, so as not to influence the elections of the new mayors and senators – Bolsonaro supports Arthur Lira (PP-AL) Câmara and Rodrigo Pacheco (DEM-MG) in the Senate.
The parliamentarians complain, according to the blog, of the closure of agencies in their electoral bases.
This Thursday (14), despite the relevant event sent by the bank to the market, reported Valdo Cruz’s blog, André Brandão’s situation remained undefined.
André Brandão took over the bank’s presidency in September last year, a former graduate of the HSBC group, of which he was president. He has more than 20 years of experience in the financial market.
At HSBC, he started working in late 1999 in fixed income, sales and currency exchange. In 2001 he assumed the position of Treasury Director and was subsequently promoted to Treasury Executive Director. He also served as director of the bank’s market area for all of Latin America, before becoming president in 2012. In addition to HSBC, he also worked at Citibank, between São Paulo and New York.
Valdo: Bolsonaro resigns André Brandão, president of Banco do Brasil
Banco do Brasil announced on Monday (11) the opening of two voluntary redundancy programs with the expectation of joining some 5,000 employees.
The bank also announced the closure of 361 units (112 branches, 7 offices and 242 service stations) in the first half of this year.
The so-called forms of voluntary dismissal by incentive for employees are the following:
- Personnel Adaptation Program (PAQ), in order to optimize the distribution of the workforce, attending to vacancies and excesses in banking units. In addition to the shutdown option, PAQ encourages lateral movements towards units where there are vacancies.
- Extraordinary layoff program (PDE), available to all BB employees who meet the prerequisites and is specific to encourage layoffs, with a limit of 5,000 adhesions.
Banco do Brasil announced that the reorganization of the service network, including the closure of units, should bring an estimated annual net saving with administrative expenses of R $ 353 million in 2021 and R $ 2.7 billion in 2025.
The objective of closing the units, according to the bank, is to bring more efficiency to the service network, provide resources for the opening of specialized service units and improve the customer experience.
