Previ’s new president is the target of criticism – 03/01/2023 – Market

The nomination of the name of João Fukunaga to assume the presidency of Previ, a pension fund of BB (Banco do Brasil) and the largest in the country, is the target of criticism on social networks and among bank retirees, who point to a lack of experience in the area. . Bank unions, on the other hand, praised the choice.

Fukunaga was nominated last Friday (24) by BB to take over Previ’s presidency, replacing Daniel Stieler, who had been in office since June 2021 and retired. On Monday (27th), Fukunaga received from Previc (National Superintendence of Complementary Pensions), the sector’s regulatory body, a certificate of manager qualification, and took office on Tuesday (28th).

Fukunaga has been an employee of Banco do Brasil since 2008, where he started as a clerk, having joined the board of directors of the Bank Workers Union of São Paulo, Osasco and Region in 2012.

In the union, he acted as national coordinator of the BB Employee Negotiation Commission. He holds a degree in History and a Master’s degree in Social History from PUC-SP, he started his career as a high school teacher and also worked as a researcher.

The relatively short time at the company and the lack of training in the financial area led to criticism of the nomination for the position of president of Previ, a pension fund with approximately R$ 250 billion in social security resources destined for the retirement of bank employees.

In previous administrations, the pension fund made investments that proved to be disastrous, such as an investment of around R$ 180 million in Sete Brasil, a company created in 2010 to supply drilling rigs for pre-salt exploration by Petrobras.

President of Anabb (National Association of Banco do Brasil Employees), Augusto Carvalho says he received calls and statements from Previ policyholders who criticized Fukunaga’s choice to command the largest pension fund in the country.

On social media, publications also harshly criticized the name of Previ’s new president.

“The nominee, apart from political connections, does not have the experience or technical knowledge for the function”, says a publication on LinkedIn by Nélio Lima, who served as director at BB and Previ. In the post, he claims that he still has no doubts that, “given the need for resources by the federal government for various activities, especially infrastructure”, pension funds will be induced to invest in projects in the area.

Carvalho, however, defends the choice of Fukunaga. The president of Anabb considers that the new president of Previ passed the scrutiny of Previc, the competent body responsible for validating the nominations of directors before they assume management positions in pension funds.

Among the criteria required to approve the nomination imposed by the regulation, are to have professional experience of at least three years in the exercise of activities in the financial, administrative, accounting, legal, inspection, actuarial, social security or audit areas; not have suffered a final criminal conviction; and have an unblemished reputation.

“Previc endorsed his name, did not see any shortcomings in the requirements it requires, and we are not aware of any discrediting decision that has been taken by him”, says Carvalho.

The president of Anabb adds that names with extensive experience in the financial market have already passed through the board of pension funds, which did not, however, prevent investments that brought negative results to policyholders from being carried out.

“Our concern, from a structural point of view, is that João manages well. .”

“Prior qualification reinforces good corporate governance practices and promotes technical management, aimed at fulfilling Previ’s mission, to pay benefits to all of us, associates, in an efficient, safe and sustainable way”, says Previ in ​​a published note. on your website.

Sought, the foundation reported that the leader could not yet comment.

According to sources, Fukunaga was well received on his first day ahead of Previ. They also recalled that other names of directors who took up positions in pension funds in the past and who were questioned managed to stand out.

The unions also came out in defense of Previ’s new president.

“João has a history of struggle in the union movement, in defense of workers. He leads conflicts with leadership and balance, always attentive to advances in the rights of bank employees”, stated Ivone Silva, president of the Union of Bank Workers of São Paulo, Osasco and Region , in a note published on the union’s website.

“João Fukunaga has a history of fighting in defense of Banco do Brasil employees and now he will preside over a pension fund that was built by the workers”, said Cleiton dos Santos, president of Fetec-CUT/CN (Federation of Workers in Centro Norte Credit) and advisory member of the Previ Futuro Plan.