Monthly Archives - October 2019

Son of founder of Brazil’s Banco Safra leaves board; bank changes CEO

Alberto Safra, one of the sons of Lebanese-Brazilian billionaire banker Joseph Safra, has left Banco Safra SA’s board of directors to work on another family project, the Brazilian lender said in a statement on Monday. Banco Safra also said in its statement that Chief Executive Officer Rossano Maranhao had left the bank. Late on Monday, the bank said Alberto Corsetti, a longtime Safra executive, would replace Maranhao.  Local newspapers Valor Economico and O Estado de S. Paulo reported that Alberto Safra [...]

Brazilian meat giants reap market gains from Chinese demand

By Luzi Henrique Mendes | São Paulo – Valor International The African swine fever epidemic in China is still driving shares of Brazilian meat processors. Since there are no signs the outbreak is under control, with Chinese herds still shrinking, investors are doubling down bets on Brazil’s top meatpackers: JBS, BRF, Marfrig and Minerva. The rally of 2019 is unheard of and will be challenging to replicate. JBS shares rose to a new record in September, with the company controlled by [...]