Ramalho and New Bank: “Time is of uncertainty but also of opportunity” – Jornal de Negócios – Portugal

António Ramalho is, since Friday, the new CEO of the New Bank, officially succeeding Stock da Cunha. After his name was announced about a month, the former leader of Portugal Infrastructure received the green light from European authorities to take hold. It began with an internal communication to employees, which admits that starts “functions at a time of uncertainty but also of opportunity.”

In the message, that the business had access, Ramalho believes that the uncertainties are linked to the arrival of a new shareholder by the end of the year, but also the general issues of the banking sector, as new and changing regulatory requirements and changing behavior in the financial sector clients.

“Uncertainties are not as you see, a matter of the new Bank. They are the name of the game in the financial industry for the coming years. for many it is a threat to us, in new Bank may be an opportunity, “said the new head.

at the outset, Antonio Ramalho says the focus on three planes in the same number of areas it considers key: a “business transformation plan,” a “governance change plan” and strengthening ” capital change plans, “linked to new or new shareholders.

” so, my first word before so transience and uncertainty is neither hope only, not evasive promises it is simply the challenge, “which leaves the bank employees,” in a moment of shareholder change at a time of regulatory change, a time of dramatic changes in our industry, we have the courage to accept this challenge and make the new Bank a new bank? “.

as the Business reported recently, the new Bank governance model will be changed with the administration to become part of non-executive directors, including a” chairman. ” The aim is to strengthen the team’s control mechanisms that will be led by Antonio Ramalho.

As for the sales process underway, the Bank of Portugal wants to close the case during 2016, being in four proposals on the table, very varied in terms of commitment and content: BPI, BCP, Lone Star and Apollo / Centerbridge. Individual negotiations should be resumed in September.