Sunday, April 11, 2021

Former managers of Novo Banco head to Banco do Fomento and CGD

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The managers Vítor Fernandes and Jorge Freire Cardoso, who left Novo Banco in disagreement with Lone Star’s strategy, will act as president of Banco de Fomento and administrator at Caixa Geral de Depósitos (CGD), respectively.

As this Friday reported Express, both are in the list of names selected for the Novo Banco survey, prepared by the deputies to understand if the management led by António Ramalho promoted sales of toxic assets.

These, like José Eduardo Bettencourt, left the bank in November, a month before the end of their terms. To the Public, Vítor Fernandes admitted that he left the bank because the majority shareholder did not consider him central to the strategy.

Jorge Cardoso returned to CaixaBI in February, as coordinating director. According to the Express, should be appointed for the next term as an administrator. At this institution since 2000, he was president and administrator. In 2014, he was requested by Banco de Portugal and the Resolution Fund to join Novo Banco, where he remained as financial officer until 2019, when Lone Star hired Mark Bourke for the role.

Vítor Fernandes, who, in addition to Novo Banco, has already been in the administrations of CGD and BCP and in the ECS manager, was, however, nominated as chairman of Banco de Fomento, according to Economy Minister Pedro Siza Vieira.

Taísa Pagno Taísa Pagno //

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