The ECB has given the green light to Antonio Ramalho to lead the New Bank, according to a statement on CMVM.
The New Bank reports that the European Central Bank confirmed today the appointment of Dr. Antonio Manuel Palma Ramalho for the post of Chairman of the New Bank Directors with executive functions, as decided by the Bank of Portugal, based on the proposal of the resolution fund, “according to the statement released.
António Ramalho today takes office, the statement said.
the new bank will also have a non-executive chairman and administrators.
When we found the Mad Money, later in the month cease the mandate the current administrators and September the governance model will be changed to accommodate the rules of the EBA, as the New Bank governance model is not yet adapted to the European legislation.
of Infrastructure former President of Portugal should have started functions ahead of the New Bank on August 1 but had to wait for the ECB of this green light and the suitability statement. Surpassed this step, António Ramalho can now take office in front of the bridge bank
António Ramalho back to the bank, where he was most of his career. – Spent ten years managing the António Champalimaud banks and . spent 12 years in BCP – after four years in the Portugal Roads and also the Refer now IP, and replaces Eduardo Stock da Cunha, who returns to the British Lloyds
the choice was consensual: the name it was suggested by the Bank of Portugal and had the approval of the Government. The manager also has a close working relationship with Sergio Monteiro, who is leading the sales process and was responsible for the merger of the EP (led by Ramalho) and REFER when he was Secretary of State for Transport.
the sale of the New Bank will be the most urgent dossier that António Ramalho will have to deal with. The resolution fund received four purchase proposals – BPI funds Apollo / Centerbridge, Lone Star and also an expression of interest, without price, BCP, as confirmed the bank’s president, Nuno Amado. Santander Totta “was not the game” and not put forward a proposal, assured Vieira Monteiro, president of the bank, the New Bank “does not fit the criteria.” Fernando Ulrich, BPI, declined to comment, citing confidentiality.
According to found the Mad Money contacts with interested parties should intensify in September, when it will also be closed which the chosen sales model, to an institutional investor by sale on the stock exchange excluding retail.
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