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Banrisul gets a new chairman

Banco do Estado do Rio Grande do Sul SA said that its controlling shareholder, the Brazilian state of Rio Grande do Sul, tapped Jorge Luis Tonetto to be the bank's new board chairman.

Tonetto replaces Ademar Schardong, who was appointed chairman in April.

Tonetto became a member of Banrisul's board of directors earlier in 2019, according to S&P Global Market Intelligence data.