Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Banco do Brasil Replaces Private Banking Head Allan Toledo

Dec. 28 (Bloomberg) -- Banco do Brasil SA, Latin America’s largest bank by assets, replaced Allan Simoes Toledo as head of private banking, wholesale and international businesses.

Paulo Rogerio Caffarelli succeeded Toledo temporarily starting yesterday and also will remain head of retail services, Marco Tulio Bretas de Vasconcelos, communications manager at the bank, said today in a telephone interview. The Brasilia-based lender didn’t say why it replaced Toledo, who may remain an employee, according to Vasconcelos.

Toledo, 44, started at Banco do Brasil in 1982 and helped the firm expand abroad. The bank bought a 51 percent stake in Buenos Aires-based Banco Patagonia SA for 1.86 billion pesos ($432 million) in April 2010. In January, the bank agreed to purchase Florida-based EuroBank for $6 million. Toledo said in June that Banco do Brasil was considering buying rivals in Colombia, Chile and Peru.

Banco do Brasil fell 1.2 percent to 23.76 reais in Sao Paulo at 12:30 p.m., compared with a 0.9 percent decline for the benchmark Bovespa index.

To contact the reporters on this story: Felipe Frisch in Sao Paulo at ffrisch1@bloomberg.net; Francisco Marcelino in Sao Paulo at mdeoliveira@bloomberg.net

To contact the editor responsible for this story: David Scheer at dscheer@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.