July 24, 2019 / 3:29 PM / 4 months ago

Brazil's BNDES appoints Caixa Economica Federal CFO Laloni to new post

SAO PAULO, July 24 (Reuters) - Brazil’s state-owned development bank BNDES has appointed Andre Laloni, the current chief financial officer of government bank Caixa Economica Federal, to oversee its loans and investments, BNDES said in a statement on Wednesday.

As Caixa’s CFO since February, Laloni has managed the sale of stakes worth billions of reais involving assets including Petroleo Brasileiro SA and IRB Brasil Resseguros SA .

Economy Minister Paulo Guedes has said BNDES needs to start selling much of its roughly $25 billion equity portfolio.

BNDES’ new Chief Executive Gustavo Montezano said earlier this month he was looking to expedite the sale of listed assets and was working to pay back 126 billion reais in debt to Brazil’s government by December. (Reporting by Tatiana Bautzer Editing by Tom Brown)

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