Salgado did not inform Credit Agricole on necessary changes to the BES because they had no time
Ricardo Salgado says failed to properly inform the Crédit Agricole of the need to changes in BES because the Bank of Portugal has four days to the meeting of shareholders was convened and, during this period, had several meetings with the top board and had “an unexpected but essential, visit to Angola.”
Ricardo Salgado sent a letter to Parliament to respond to a letter that the Governor of the Bank of Portugal did arrive while the former president of BES was in the commission of inquiry to give evidence. Among other issues is approached Salgado succession.
The former president of BES reiterates what it said on Tuesday before the members, stressing that the governor had, at an early stage, accept Amilcar Morais Pires to to succeed in the bank’s leadership. The governor has come deny having said that not even the Crédit Agricole, the second largest shareholder of BES, had approved the name.
Today, December 11th, Ricardo Salgado sent Parliament correspondence with the Bank of Portugal and which explains why Crédit Agricole had not given consent to Morais Pires: I knew not. This is because Ricardo Salgado says he has not had the opportunity to speak to the shareholder, as the Bank of Portugal accelerated the convening of the general meeting of shareholders of BES, while Salgado had to perform various meetings of the High Council to meet consensus on the changes that would be implemented, and then had an unexpected trip, but which could not miss, to Angola.
Ricardo Salgado reiterates this Thursday, “all information” that made the hearing of the parliamentary commission of inquiry. This is how we react to the letter sent by Carlos Costa to Parliament on the statements that the President of BES made before the members. Salgado said on 9 December that initially the governor of the Bank of Portugal had accepted the name of Amilcar Morais Pires to lead the BES.
The correspondence in question, sent by Salgado today the commission of inquiry was sent by Ricardo Salgado Carlos Costa on July 1, in response to a letter sent by the governor on June 24. At issue were the measures that needed to be made for the BES leadership was replaced and the necessary changes to the governance model. In this letter, Salgado said the governor of the Bank of Portugal who had been surprised that the name de Morais Pires had appeared in the newspapers after a meeting between Ricardo Salgado and the Bank of Portugal, during which they had agreed to keep the matter indoors.
“It was with surprise that logo on Thursday night and Friday morning (06/20/2014) I found out all the press reported the name of dr. Amilcar Morais Pires as future CEO of BES, despite the indications have been withdrawal of proposals to be submitted to the general meeting, as suggested by your Excellency. I can guarantee that kept total secrecy on this subject and did everything so that the same silence was guarded by those who took part in the internal deliberations the group, “reads the document.
This news caused the suspension of BES shares on the stock exchange, determined by the market regulator (CMVM) and led to” a profound instability together of institutional investment funds and international, which days before had subscribed to the increase in BES capital “as well as by banks who advised on the operation and the lawyers involved in these operations, said Salgado.
The former president of BES says recognize that what had happened in the days before “committed the serenity and my purpose of obtaining prior consent, wider, for names to be proposed either for strategic advice and for the board of directors.” Salgado stated that had been agreed with Pedro Machado [Deputy Director of the Bank of Portugal] Carlos Costa call the Holy Spirit family for a meeting to be explained at all because they would have to give up their functions in BES. In addition it was agreed that the extraordinary general meeting should take place in late June.
Ricardo Salgado explains why, in order to ensure the confidentiality “requested by the Bank of Portugal,” abstained purposely to have any conversations with any other reference shareholders “on the topics covered. For when he did was all closed with the Bank of Portugal.
And had planned to talk to the reference shareholders,” especially with Crédit Agricole, in order to obtain a broader consensus on the measures to be proposed, between 18 and 27 June.
However, “unforeseen situations have taken the bop to determine, on June 16, that the general meeting be convened until 17 pm on June 20, and released on the same date, proposals. “
The fact that a few days until the AG and Ricardo Salgado have performed several meetings with the High Council of the GES, “in order to reach a consensus” because of the change of status and changes in the management, and due to an “unexpected but essential, visit to Angola,” Salgado could not reunir- with the reference shareholders, justified.
Thus, only managed to speak with representatives of Crédit Agricole to two hours of the meeting of the board of directors, which, he admits, has led to the leaders of the French bank “have become displeased”, because in this way, have not had time to examine the issues with time.
(updated news to 20h03 with more information)
No comments:
Post a Comment