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Maua Capital CEO accepts chairman role at Banco do Brasil

Luiz Fernando Figueiredo, the CEO of investment management firm Maua Capital, has accepted an invitation from Brazilian Economy Minister Paulo Guedes to become board chairman at state-run Banco do Brasil SA, Reuters reported.

Figueiredo will assume the new role in the coming days, Maua Capital said in a statement, adding that this "will not have any impact on his leadership role at Maua Capital."

Figueiredo also works as an adviser at stock exchange operator B3 SA - Brasil Bolsa Balcão and as director at Brazilian financial and capital market association Anbima. He previously served as a director at Brazil's central bank between 1999 and 2003.