BNDES fires director Andre Laloni after divestment dispute
BNDES has dismissed director Andre Laloni, who requested a leave of absence last week amid disagreements over asset sales, two people with knowledge of the matter said.
One of the sources said the board members voted by phone in a meeting requested by BNDES Chairman Thadeu de Freitas.
Laloni requested a leave of absence from the bank on Friday, after clashing with other directors over the sale of shares in state-controlled lender Banco do Brasil SA.
The former UBS banker was planning to sell most stakes owned by the bank through marketed follow-ons while bank staff preferred to sell shares through the development bank’s equities desk in Rio de Janeiro. He also tried to change internal rules regulating asset sales to accelerate the divestiture of a BRL120 billion ($29 billion) stock portfolio.
