Maluhy’s first results conference call was more interesting for what he said about the future than the past.
What Maluhy faces will be radically different from any other of the bank’s illustrious list of CEOs.
Whereas his predecessors were all focused on growing the bank organically and – under Roberto Setubal particularly – through acquisitions and mergers, Maluhy will have to take an axe to the bank’s network of branches.
In the past, put bluntly, scale won in Brazil.
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