Executive Board

The Executive Board is responsible for the Bank’s management, and is composed of the President, the Vice-Presidents and the Executive Officers.

The Executive Board is in charge of complying with and enforcing the Bank Bylaws, the deliberations of the General Shareholders Meetings and of the Board of Directors, and should also perform the duties defined by that Board of Directors, taking into account the principles of best banking and corporate governance practices.

Each of its members is also responsible for complying with and enforcing the decisions of the Board of Directors and the Executive Board (Bylaws, articles 28 and 30).

The Executive Board has ten to thirty-eight members, being up to ten Vice-Presidents and up to twenty-seven Directors, all of them chosen by the Board of Directors, upon nomination by the President of the Bank, who is, on the other hand, appointed and dismissed directly by the President of Brazil. The position of Executive Officer is exclusively reserved to employees. (Bylaws, article 24-I, article 24, §2 and and article 30-I-b).

The Executive Board plays a key role in the management of the Bank’s businesses, directly contributing to the implementation of good corporate governance practices. In order to do so, it is important that its members comply, in addition to the requirements, impediments and legal prohibitions, with the other conditions established in the Bylaws to hold office in the Bank’s management bodies (Articles 11, 13 and 24 §4)


Updated 12/20/2018 at 02:27 pm