Caixa Econômica Federal will open a Disciplinary Administrative Proceedings (PAD) against Pablo Sarmento, former CEO of Caixa Asset, reports the column by Malu Gaspar, from the newspaper “O Globo”. According to the publication, the decision was taken after the conclusion of an internal investigation conducted by the bank’s internal affairs department. The process investigates allegations of abuse of power, inappropriate behavior in the work environment and negligence.
Also according to the newspaper, the investigation concluded that there is evidence that Sarmento violated internal governance rules at Caixa Asset, a division created in 2021, during the government of Jair Bolsonaro.
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The opening of the process it should officially take place in January. The PAD’s possible punishments include a warning and even the termination of Sarmento’s employment contract, according to the newspaper. He was removed as CEO last November.
Sarmento was wanted by The Globebut did not comment until the publication of the text. The publication found that Caixa Asset received 30 complaints during the period in which the state bank manager was organizing the purchase of R$500 million in financial bills from Banco Master, an operation considered atypical and risky by the managers of the bank’s management arm.
