New blood on board

Portuguese bank Caixa Geral de Depósitos’ (CGD) new administration has appointed a new person responsible for overseas operations, including its local operations at Banco Nacional Ultramarino (BNU) bank.
The new overseer of the overseas operations, José João Guilherme, will also oversee the group’s international operations in France, East Timor and Lusophone countries in Africa, and will integrate into the group’s new administration headed by Paulo Macedo, managing the state-owned bank from February 1.
Mr. Guilherme has worked previously as an administrator at Portuguese banking groups Millennium BCP and Novo Banco S.A (Novo Banco) – both of which have branches in the MSAR – and venture capital fund ECS Capital.
The new CGD administration will take office after former administrative council president António Domingues spent only three months in the role, having refused to adhere to legislation passed in the Portuguese parliament mandating that administrators of the state-owned bank would have to present an asset declaration to the country’s Constitutional Court.
Although CGD filed losses of 205.2 million euros (MOP1.8 billion/US$229.2 million) for the first half of 2016, it has described BNU as one of its better performing international branches, with the Macau group contributing 36.9 million euros to the group’s consolidated results in the same period.