A list of CGD’s executive directors has headed to ECB

  • ECO News
  • 22 December 2016

The names for CGD’s executive team of directors have headed towards the European Supervisory Mechanism. The non-executive names will be presented later on.

The executive team for the Portuguese public bank Caixa Geral de Depósitos has been sent to the European Central Bank, ECO confirmed from a piece of news disclosed by the Portuguese newspapers Jornal de Negócios and Público.

The names for the non-executive team should be handed in later on.

Therefore, as ECO had disclosed, Paulo Macedo will be the head of CGD, replacing the former CEO António Domingues, along with José João Guilherme, former administrator of the Portuguese banks BCP and Novo Banco, and the assistant of the state secretary for Treasury, Nuno Martins. CGD will also have as an administrator Maria João Carioca, who will be leaving her leadership in Euronext Lisbon to return to the public bank.

To this team, there is another name joining: Francisco Cary. He was a part of the Espírito Santo Group and was also an administrator for BES Investimento (currently known as Haitong Bank). The administration will also have João Tudela Martins, being that he already belonged to the previous team and was one of the three executive administrators who did not resign, along with Tiago Ravara Marques and Pedro Leitão.

By handing in the list of names of the executive team to the Bank of Portugal and having sent them to Frankfurt, the most important step was made in order to have CGD’s team entering office. The Supervisory Mechanism – dependent on ECB – does not have a set calendar or deadline for assessing the team, but it is know the Bank of Portugal has been advocating the importance of making a quick decision to the ECB.