Guimarães was also invited to run the new Privatization Secretariat, which will be under Guedes's umbrella, but preferred to run the public bank.
Guedes's plans for Caixa go through the privatization of several areas of the bank that are not related to public policies and that attract private sector interest. These include games, credit cards and insurance. The current management of Caixa has been preparing the ground for these measures, such as the creation of specific companies to be privatized, according to sources from the institution.
Guimarães is a partner in Brazil Plural investment bank and has extensive experience in the financial market. He holds a PhD in Economics from the University of Rochester (USA), specializing in privatizations and participated in various business sales processes in Brazil, such as Banespa.
The appointment of the President of Caixa is a prerogative of the President of the Republic. The names of the 12 vice-presidents are the responsibility of the board of directors. And who indicates the composition of the councilors are the Ministries of Finance and Planning, in the current configuration.
In the new government, they will be agglutinated in the super Ministry of Economy, together with the Ministry of Industry and Foreign Trade. In practice, all vice presidents may be replaced. But they need to undergo selective process in the market, as predicted by the new statute of the bank.
Source: GMB
