June 17, 2019 / 10:05 PM / a year ago

Brazil economy ministry names Montezano head of development bank BNDES - statement

BRASILIA, June 17 (Reuters) - The Brazilian Economy Ministry said on Monday it has named Gustavo Montezano as the new head of the country’s development bank BNDES, replacing Joaquim Levy, who resigned on Sunday after he was publicly criticized by President Jair Bolsonaro.

Montezano became privatization secretary as part of Economy Minister Paulo Guedes’ team in January, charged with advancing the divestiture of state assets. Previously, he served as Chief Operating Officer at Engelhart Commodities Trading Partners, a firm owned by Banco BTG Pactual SA’s partners, according to his LinkedIn page. (Reporting by Mateus Maia; Writing by Carolina Mandl; editing by Bill Berkrot)

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