Banco do Brasil replaces US command amid restructuring

New York – The Bank of Brazil BP has replaced the command of its subsidiary in the US, the company confirmed Estado/Broadcast. Joao Fruit He took over the position this month, replacing Carlos Omin, who retired after 36 years of service.

Unlike past administrations that tried to divest assets in the U.S., the change comes amid a plan to restructure the operation with an eye toward expansion. Froude assumes leadership of BP Americas.

The executive joined BB in 1987. Since then, he has worked in several divisions, including in the corporate area, holding positions in the US operation and, most recently, in insurance, where he held the position of Commercial Director at Bank BrasilCzech. Insurance company, for two years.

According to him, the essence of BB Americas was built on the concept of a competitive bank targeting the Brazilian community in the United States. “Our focus is to work closely with our public,” he said in a statement Estado/Broadcast.

After various strategies for its subsidiary in the US, BP decided to strengthen the business under the current management. To this end, BB Americas and BB Miami’s structures are being consolidated, and in March, Broadcast is expected to expand both from the point of view of assets and physical structure.

In parallel, BP continues to establish partnerships to grow overseas. First, it struck a deal with UBS to expand its private sector dealing with relationships with the wealthy in the US. Now, as recently revealed by a Broadcast column, Europe has an idea to move this strategy forward as well.

oh BP Americas Formed in Euro BankAcquired by Banco do Brasil in 2012. It currently has seven branches in the US and has more than 30 thousand customers.

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