Brazil: Is the next ‘Petrobras drama’ brewing at Banco do Brasil?

Independent board members deem the Ministry of Economy's nomination for state-controlled Banco do Brasil's presidency inadequate, which could create a crisis in the board - as seen in Petrobras.

RIO DE JANEIRO, BRAZIL - The Ministry of Economy's nominee for the presidency of Banco do Brasil (BB), Fausto Ribeiro, was interviewed by three of the financial institution's board members, who considered him unsuitable for the position. The appointment, if confirmed by President Jair Bolsonaro, may open a crisis in the board - as seen in Petrobras.

The putative nominee, current president of BB Consórcios, was interviewed by the two independent members - Hélio Magalh . . .

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