Santander Brasil announced the change of its CFO.
Angel Santodomingo Martell, who had been in charge for nine years, is stepping down to take on a new position at Grupo Santander.
He will act as head of strategy for the group and chief of staff from Ana Botin, to chairwoman executive.
In his place, Santander Brasil promoted Gustavo Alejo Viviani, who has worked at the bank for over 20 years. Gustavo went through several areas of the bank, acting as head of wholesale credit recovery and managing director do corporate e investment bank.
In 2019, he took over as CFO of the retail vertical, one of the main ones in the bank.
The changes take effect from March 20.
The change of CFO comes at a time when banks are under pressure from all sides: with the rise in defaults, the failure of Americanas, and a challenging macroeconomic scenario.
Santander Brasil’s shares have fallen 6.6% in the last twelve months, trading at R$29.73, compared to a 4% drop in the Ibovespa.
The bank is worth BRL 110 billion on B3.
Peter Arbex