João Fukunaga’s resignation as head of Previ concludes the management overhaul at Banco do Brasil’s main subsidiaries initiated in July by CEO Tarciana Medeiros, Valor reported.
The restructuring has included changes at BB Asset, BB Seguridade, Brasilseg, BB Americas and BB Tecnologia e Serviços.
In September, Medeiros also confirmed Antônio Carlos Teixeira as CEO of Brasilcap, after serving in an interim capacity since May.
Fukunaga stepped down during a board meeting following internal tensions and will be succeeded by Márcio Chiumento, Previ’s current equity director, appointed by Medeiros.
Fukunaga will move to Elopar, the holding company for Elo cards, as director of government relations and ESG. Previ manages more than BRL270bn ($50.2bn) in assets and is Brazil’s largest pension fund.
Appointed in 2023, Fukunaga was the first trade unionist to lead Previ since 2010. His term was to run until 2026 but came under pressure after a 2024 deficit prompted an audit by the Federal Court of Accounts. The fund’s Plano 1 plan later returned to a BRL1.48bn surplus by August.
Chiumento, a Banco do Brasil veteran since 2000, has held several leadership positions and sits on the boards of Neoenergia and Tupy. Medeiros’s reshuffle has largely favoured career employees, a move seen as insulating the bank from political interference.
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