Troyjo resigns as president of the BRICS Bank and opens the way for Dilma Rousseff

Marcos Troyjo, president of the BRICS Bank (NDB), resigned on Friday, Mar. 10. President Lula will nominate Dilma Rousseff to lead the financial institution.

In a statement, the bank announced that it would start a leadership transition process. Troyjo has headed the institution since July 2020 and must leave office by Mar. 24.

“The Board of Governors of the New Development Bank will then elect a new president nominated by Brazil to serve the rotating term, which expires on Jul. 6, 2025,” the bank explained in a statement. “After the election, the new president will take office.”

Also, the BRICS Bank praised Troyjo’s work at the institution in the statement.

“Mr. Marcos Troyjo has served as president of the NDB since July 2020 and has been instrumental in the success of the NDB,” the bank noted.

“During President Troyjo’s tenure, NDB has achieved important milestones. He led the bank’s initial membership expansion, strengthened the ESG (Environmental, Social, and Governance) Department, and established the Independent Evaluation Office. He also led the bank’s move to its permanent headquarters in Shanghai.”

ROUSSEFF AT THE HELM OF THE BRICS BANK

During an interview with CNN last month, Lula said that if it were up to him, Rousseff would be the head of the Bank of the BRICS.

“Dilma is an extraordinary figure,” Lula said. “She is very competent technically. If she is president of the BRICS, it will be wonderful for the BRICS and Brazil.”

The institution is popularly known as the Bank of the BRICS because of the economic grouping formed by Brazil, Russia, India, China, and South Africa.