CEO of Credit Suisse’s Brazilian unit to leave -document

RIO DE JANEIRO, BRAZIL – (REUTERS) Credit Suisse’s Brazil chief executive, Jose Olympio Pereira, plans to leave the bank by year-end, according to an internal memo seen by Reuters.

In the memo, sent by e-mail on Wednesday afternoon and signed by the board of Credit Suisse’s Brazilian unit, the bank said Pereira is expected to remain at the bank at least through the end of 2021.

He is expected to help the chairman of the local board, Ilan Goldfajn, to chose his successor.

Olympio Pereira, Credit Suisse’s CEO in Brazil since 2012, has had a 36-year career in financial institutions. The 59-year-old executive had “expressed his wish to leave the bank,” according to the memo.

The website of Brazilian newspaper Valor Economico reported the exit earlier on Wednesday.

Brazilian broker XP Inc has approached Credit Suisse Group AG to express its interest in potentially acquiring the subsidiary in Brazil, Reuters reported. The Swiss bank “categorically denied” talks about the matter.