Brazil’s Meirelles Names Caffarelli, Occhi to Lead State Banks

Brazil Finance Minister Henrique Meirelles appointed new leadership for the nation’s biggest state-owned banks two weeks after Michel Temer took over as acting president.

Paulo Rogerio Caffarelli, 50, corporate executive director at steelmaker Cia. Siderurgica Nacional SA, was named to replace Alexandre Abreu as chief executive officer of Banco do Brasil SA, the nation’s largest bank by assets, according to an e-mailed statement Wednesday. Gilberto Occhi, 58, who was Dilma Rousseff’s minister of integration until last month, will head Caixa Economica Federal, which has Brazil’s second-largest domestic portfolio of loans.

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