American investment banking giant Goldman Sachs has appointed Maria Silvia Bastos Marques as new president and CEO of its Brazil business.

Marques will take up the new responsibility in April 2018, replacing Paulo Leme who is set to retire.

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At the same time, she will preside over the Brazil unit’s management committee.

In the new role, Marques will report to the firm’s Latin America business co-heads Gonzalo Garcia and Ram Sundaram.

Marques previously worked in various roles at Brazilian development bank BNDES, latterly as its president.

She was the municipal finance secretary and president of the Rio 2016 Olympic Committee, president of Brazilian steelmaker Companhia Siderurgica Nacional (CSN), and partner at MS & CR2 Financas Corporativas. She also had a seat on the advisory boards of Petrobras and Vale.

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“Maria Silvia will focus on helping us grow our business in Brazil. We are confident that she will continue the momentum we have started to build over the last several years in providing exceptional service to our clients. This hire underlines Goldman Sachs’ commitment to the country and to Latin America,” Sundaram stated.