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B3 chairman to step down

The chairman of the Brazilian bourse, B3 SA – Brasil, Bolsa, Balcão, Pedro Pullen Parente, will resign from his post effective June 1, according to a securities filing.

Parente, who was instrumental in the negotiations for the merger of the BM&FBOVESPA and Cetip SA – Mercados Organizados bourses, will be replaced by the board's vice chairman Antonio Carlos Quintella.

Luiz Nelson Guedes de Carvalho, another board member, will succeed Quintella as vice-chairman.