Rossano Confirmed at Banco do Brasil

The government of President Luiz Inácio Lula da Silva confirmed Rossano Maranhão Pinto as president of state-owned Banco do Brasil, Latin America ‘s biggest bank. Maranhão Pinto took over temporarily as president last September after his predecessor Cássio Casseb quit in anger at accusations of financial irregularities made against against him. Analysts had feared the government might replace Casseb with a political appointee. However, Maranhão Pinto is a highly repsected career Banco do Brasil executive, and was formerly vice president of the bank’s international and wholesale division.