Analysis: What Financial Market Expects from Banco do Brasil’s New President

Analysts celebrate the choice of André Brandão for Banco do Brasil but point out major challenges that the executive, coming from the HSBC, will face.

RIO DE JANEIRO, BRAZIL - Three weeks after Rubem Novaes' sudden departure (returning to the private sector) from the presidency of Banco do Brasil (BB), the state-owned financial institution officially named André Guilherme Brandão as its new CEO. His name had been known for some two weeks and his appointment was regarded as a victory for the "pragmatic" government wing because of his profile, which is considered technical rather than political.

Novaes resigned in the . . .

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