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Principal Financial and Banco do Brasil strengthen relationship

US financial services conglomerate Principal Financial Group and Banco do Brasil, Latin Americas biggest bank by assets, have reached a definitive agreement to extend their pension and long-term asset accumulation joint venture in Brazil, BrasilPrev Seguros e Previdncia SA (BrasilPrev) Together, over the past 10 years, weve built BrasilPrev into one of Brazils top retirement services companies with approximately threem accounts and nearly $16bn in assets under management,” said Principal Financial chairman, president and CEO Larry Zimpleman