SAO PAULO--Brazilian financial firm Brasilprev announced Ricardo
Flores as its new president, the company said Monday in a
statement.
Mr. Flores assumed the post left by Sergio Rosa, who left at the
end of May citing personal reasons.
At the end of May, Flores resigned as president of Brazil's
Previ, Latin America's largest pension fund, after two years in the
post. His exit was part of an ongoing political battle between
executives at state-run Banco do Brasil SA (BDORY, BBAS3.BR) and
Previ--the bank's pension fund.
Brasilprev is a joint venture of Banco do Brasil SA, which is
Brazil's largest bank, and Principal Financial Group (PFG). The
venture manages 1.6 million insurance and pension plans.
Write to Rogerio Jelmayer at rogerio.jelmayer@dowjones.com
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