Brazil's Pine says CFO Zaiet quits; CEO Pinheiro adds post
SAO PAULO, March 9 (Reuters) - Banco Pine SA, a midsized Brazilian wholesale bank whose shares are down 21 percent this year, said on Monday that Norberto Zaiet Junior resigned his post as chief financial officer to pursue personal interests.
In a securities filing, the São Paulo-based bank said Zaiet quit to focus on his own projects in New York that are "incompatible with the functions of a CFO." Chief Executive Officer Norberto Nogueira Pinheiro will on the additional position, the filing said.
Zaiet will remain a Pine shareholder, the filing added.
Shares of Pine plunged at the start of the year on concern over the lender's exposure to companies linked to a corruption scandal at state-controlled oil producer Petróleo Brasileiro SA . The stock recovered part of those losses after a Feb. 2 statement that outlined the bank's exposure to troubled sectors and companies linked to the Petrobras scandal.
Shares of Pine were unchanged at 5 reais on Monday. Last week the stock gained 5.2 percent. (Reporting by Guillermo Parra-Bernal; Editing by David Gregorio)
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