Stock da Cunha out of New Bank in late July – Daily News – Lisbon

Eduardo Stock da Cunha and José João Guilherme resigned from office who held the New Bank

The New Bank announced today that Eduardo Stock da Cunha and José João Guilherme renounced the president and the Board of Directors of the vowel, respectively, remaining the first in office until the end of July.

in a statement sent to the Committee on Securities market (CMVM), the new Bank said that “Eduardo Stock da Cunha will remain in office until July 31, 2016″ and José João Guilherme continue “until August 31, 2016, unless however are appointed new members by shareholder in case of termination functions that date “.

Stock da Cunha will return to Lloyds Bank.

September 14, 2014, the Bank of Portugal (boP) announced that Eduardo Stock da Cunha had been chosen to succeed Vítor Bento in leading financial institution, after the latter had asked to leave the office.

in Stock da Cunha, the Bank of Portugal meant to be “mandated to form and lead an experienced team motivated for the development project and create value for the bank, “the bridge bank management team that led the spin-off of Banco Espírito Santo (BES), also included Jorge Freire Cardoso (financial manager) Vítor Fernandes and José João Guilherme.

the organization led by Carlos Costa said at the time that Eduardo Stock da Cunha had “a long and successful experience in the financial sector, both nationally and internationally.”

Stock da Cunha played at the time director roles at Lloyds Banking Group (LBG) in London, after working 20 years as an administrator in the Santander Totta Group and later at the Sovereign Bank / Santander Bank in United States.

on August 3, 2014, the Bank of Portugal took control of BES, after the bank has presented half-yearly losses of 3.6 billion euros, and announced the separation of institution into two separate entities.

in the so-called bad bank ( ‘bad bank’), a vehicle that holds the BES name, were concentrated assets and liabilities toxic BES, as well as shareholders.

in the ‘good bank’, the transition bank was called the New Bank, were the assets and liabilities not considered problematic.