CGD board members announce their resignation

Following the resignation submitted by chairman António Domingues, less than three months after having taken office, a majority of the members of the board of Caixa Geral de Depósitos (CGD) have also presented their resignation.

This morning, in an announcement sent to the CMVM (Portuguese Securities Market Commission), the public bank announced the resignation of six board members:

1. Emídio Pinheiro: he was a member of BPI‘s Board of Directors along with António Domingues, from 1990 to 2005, when he was president of the executive committee of the Angolan bank Banco de Fomento Angola (BFA), a position he left to become a part of CGD‘s administration.
2. Henrique Menezes: since the begining of 2014, he had been he head of the bank Banco Caixa Geral Brasil, fully owned by Caixa Geral de Depósitos. Before that, he had been a part of the Portuguese bank BPI’s administration from 1998 to 2009. Between 2009 and 2014, he was in the private sector, where he found Douro Capital Management and did consulting in the UK.
3. Paulo Rodrigues da Silva: he was also a part of BPI’s administration between 1992 and 2000. After that, he was administrator of Portuguese carrier Vodafone and did consulting for the company as well.
4. Pedro Norton de Matos: from 1992 and January 2016, he was executive chief officer of Impresa.
5. Ángel Guraya: he was one of the founders of the private equity fund Magnum Capital; he was also the chairman of Santander Central Hispanio from 1994 to 2000, the year in which the bank purchased the Portuguese bank Totta.
6. Herbert Walter: he was the former president of Dresdner Bank, one of the five largest banks in Germany. He was also executive director of BPI, representing Allianz. He was also a part of Deutsche Bank.

"Also submitted their resignation as members of the Board of Directors Mr. Emídio José Bebiano e Moura da Costa Pinheiro, Mr. Henrique Cabral de Noronha e Menezes, Mr. Paulo Jorge Gonçalves Pereira Rodrigues da Silva, Mr. Pedro Lopo de Carvalho Norton de Matos, Mr. Angel Corcóstegui Guraya and Mr. Herbert Walter.”

António Domingues will continue being CGD’s chairman and CEO until the end of this year; in the upcoming weeks, the Portuguese government will announce his successor. Rui Vilar, João Paulo Tudela Martins, Pedro Humberto Leitão e Tiago Oliveira Marques remain a part of CGD’s board of directors:

• Rui Vilar: he is the current vice-chief executive of CGD, but between 1989 and 1995 he was the executive chairman of the Board of Directors of the public bank. This year, he accepted being non-executive member of the administration, while also being non-executive administrator of Fundação Gulbenkian and the general council of Coimbra’s University. He has not yet decided if he will present his resignation.
• João Tudela Martins: he was the chief risk officer in BPI since 2016 and started his career in the bank in 1996 as commercial director. The ECB has shown reservations about his entrance in the CGD, saying he should go to INSEAD in France to study Strategy and Bank Management.
• Pedro Humberto Leitão: the ECB has shown reservations about his entrance as well. He has no experience in banking, nor any ties with BPI — he was an administrator for former Portuguese phone company PT until he resigned in 2014, due to a civil procedure against him concerning a debt investment tied to the Group Espírito Santo.
• Tiago Marques: he was the Human Resources director in the bank BPI since 2000, after being the administrator for BPI Pensões.