Management Bodies

Since the strategic partnership between Votorantim Finanças and Banco do Brasil established in 2009, Banco Votorantim's governance was then divided between the two shareholders with a continuous improvement model to achieve more robustness and transparency, ensuring streamlined decision making - one of Banco Votorantim's strengths.

The governance is organized into two complementary competence levels: the first is composed of the Board of Directors and its Advisory Committees (Finance, Products & Marketing, and Human Resources), and includes the shareholders; the second is composed of the Executive Committee and its Operational Committees involving Banco Votorantim executive leadership.

Additionally, Banco Votorantim counts on a Fiscal Council, which is an independent body established to supervise Banco Votorantim management acts, and an Audit Committee, which reports directly to the Board of Directors and also has supervisory duties.

The Board of Directors is composed of six members, where each shareholder has the same representation (three members each). Each member holds office for a two-year term, and the positions of Chairman and Vice-Chairman are annually alternated between both institutions. The Board of Directors meetings are periodically held to deliberate on strategic issues and track the business performance. With respect to decision-making process, the Board of Directors decisions are made by absolute majority with no “casting vote”.

The Executive Committee, composed by the CEO and more five members (Vice-Presidents and Officers), is supported by a group of operational committees with the participation of main executives, which support and qualify the decision-making process. In 2011, the creation of the Cost Analysis and Approval Committee (CAAD - Comitê de Análise e Aprovação de Despesas) stands out, having the duty of supporting the management in the implementation of initiatives for a greater efficiency of cost management.

In 2011, as a part of the Change Agenda, Banco Votorantim also revised its organizational structure to obtain a greater integration of Wholesale and Consumer Finance corporate areas.
 

Updated on February 16th, 2012