Director of Economic Policy will not renew term at the Central Bank

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The Central Bank announced this Thursday (11) that the director of Economic Policy, Fabio Kanczuk, will not renew his mandate, which ends on December 31st.

To assume the position, economist Diogo Abry Guillen, chief economist at Itaú Asset Management and professor at Insper, was appointed. Before taking office, he has to go through a hearing at the Federal Senate, which has no date set yet.

Guillen holds a bachelor’s and master’s degree from the Department of Economics at PUC-Rio and a doctorate in economics from Princeton University.

“On behalf of the Central Bank, President Roberto Campos Neto congratulates the nominee Guillen and thanks director Kanczuk for the relevant services rendered to the Central Bank and the Collegiate Board,” the BC said in a note.

On October 28, BC announced that the director of Financial System Organization and Resolution, João Manoel Pinho de Mello, will not renew his mandate, which also ends on December 31.

He was in charge of the Pix project, instant payments system, during his tenure and was responsible for implementing the tool.

Economist Renato Dias de Brito Gomes, professor at the Toulouse School of Economics and a researcher at the Center National de la Recherche Scientifique, was appointed to the board.

Kanczuk and Pinho de Mello are part of the first board with fixed terms of four years, appointed in April of this year, after the approval of the BC’s autonomy.

According to the new rule, sanctioned in February of this year, Pinho de Mello would have the right to renew his mandate for another four years, until 2025.

The board has nine members, one of them being the president. Directors work in specific areas, such as inspection, regulation and economic policy, for example. Everyone has a vote in the Copom, which decides the Selic rate every 45 days.

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