BNP Paribas SA appointed Ricardo Guimarães country head for Brazil and CEO of Banco BNP Paribas Brasil SA, effective March 1.

Guimarães has been working at BNP Paribas Brasil for 18 years and currently serves as head of global markets for Latin America, according to a statement.

In his new role, Guimarães replaces Sandrine Ferdane, who is stepping down as the Brazilian unit's CEO to become global head of the financial institutions coverage area at the French parent company.