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RIO DE JANEIRO, BRAZIL - Heir Alberto Safra has stepped down from the board of Banco Safra, the institution reported on Monday, October 28th.

According to the bank, his resignation was by mutual agreement and he will remain in the group.

Rossano Maranhão, who has held the presidency of the group for 12 years, is also stepping down, as is vice-president Eduado Sosa. Before taking over the bank, Maranhão was head of Banco do Brasil, from 2004 to 2006. The institution has appointed Alberto Corsetti  as his succ  essor.

Alberto Safra's departure "is exclusively due to his . . .

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