SAO PAULO, April 6 (Reuters) - Banco do Brasil SA on Monday merged a division overseeing human resources into its retail banking unit in a move to raise efficiency as Latin America’s largest economy faces a challenging outlook.
Brazil’s largest bank by assets also nominated Paulo Roberto Ricci as senior vice president overseeing the merged retail banking and people management division, according to a regulatory filing. Ricci will replace Alexandre Abreu, who was previously head of retail banking and was named chief executive officer earlier this year at the state-controlled bank.
A new vice presidency slot was created to oversee the infrastructure, services and operations division, which will be headed by former government minister Cesar Borges, the filing said. (Reporting by Aluisio Alves and Guillermo Parra-Bernal; editing by Andrew Hay)