BRASILIA--Brasilprev Seguros e Previdencia SA Chief Executive
Ricardo Flores has resigned from his post after less than five
months on the job, the Brazilian financial company said Monday.
He will be replaced by Brasilprev Marketing and Commercial
Director Miguel Terra Lima.
The company cited personal and family reasons for Mr. Flores'
resignation. He had taken up the post at Brasilprev in September
after serving for 10 months as chairman of mining company Vale SA
(VALE, VALE5.BR) and for two years as president of the Banco do
Brasil's (BDORY, BBAS3.BR) employee pension fund, Previ.
BrasilPrev, a joint venture between Banco do Brasil and the
Principal Financial Group (PFG), manages open pension programs for
more than 1.4 million clients.
The company ended 2012 with 66 billion Brazilian reais ($33
billion) in assets under its administration.
Write to Gerald Jeffris at gerald.jeffris@dowjones.com
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