Brazilian state-controlled lender Banco do Brasil has reportedly merged its human resources division with its retail banking unit in a bid to raise efficiency.
The bank has nominated Paulo Roberto Ricci as senior vice president to oversee the merged retail banking and people management division, reported Reuters citing a regulatory filing.
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Ricci will replace Alexandre Abreu, who previously headed retail banking and has been promoted to be the banks CEO, earlier in 2015.
The move has created new vice presidency slot to oversee the infrastructure, services and operations division which will be headed by former government minister Cesar Borges, said the filing.
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