the president of The ” Caixa Económica Montepio Geral (banco Montepio), Félix Morgado, asked the Government to put the financial institution under the statute of the restructuring company. In question is the intention to double in 2016 the annual plan of termination friendly (with the right to compensation and the grant of employment) from the current 80 to 160 workers.
at The request of the board of directors of banco Montepio came to the Ministry of the Economy, via IAPMEI – Agency for Competitiveness and Innovation, around 21 October and was not consensualizado with its only shareholder, the Associação Mutualista Montepio Geral (AMMG). The law firm CMS Worth & Arnault, has been charged with preparing a dossier to send to the government.
the official Source of the Ministry of Economy has confirmed to the PUBLIC the entry of the request, adding that the same will now be analyzed. It will subsequently be sent to the Ministry of Labour, Solidarity and Social Security, who will the final decision.
The absence of liaison between Associação Mutualista and Caixa Económica is the noise generated within the group Montepio and took Félix Morgado to provide clarification to the general assembly of the bank held on Tuesday. This, after at the beginning of last week, a leader of the AMMG, led by Thomas Belt, having been alerted to the topic by a member of the Government.
On the 15th of November, during the meeting of the general council of the AMMG, Vítor Militias, in quality of president of the board of the general meeting of mutuality, has called, in the presence of all, the Félix Morgado, who asked to join the board and membership.
as he was busy participating in a meeting of procedure, the president of the bank Montepio did not attend, which led the general council to mandate Manuel Cardoso Martins, as president of the board of the general meeting of the bank, to ask Félix Morgado who was present this Tuesday at the meeting magna.
Félix Morgado was responding to the questions, at the beginning, and minimized the request of the status of the restructuring company, by targeting only facilitate eventual termination friendly with the right to unemployment benefit. At stake are more than 80 proposals of the output of the bank, and which join the 80 already implemented. Because they are concerned the new outputs was told that the directorate of the mutualist association should have been heard, because there are those who disagree with the initiative. In question is the fact that the annual plan runs out December 31.
As to the general assembly of the bank, this was suspended to be resumed on 13 December. On the table was the transformation of the institution into a public limited company which will facilitate the opening of the capital to entities of the social economy, as per the recommendation of the Bank of Portugal.
This measure was voted favorably in its generality, but without gathering unanimity. Of the 23 members, opposed Carlos Beach and Viriato Silva. Abstained António Pepper.
At the next meeting magna the statutory amendment will be discussed in the specialty, which is dependent on the clarification requests to the Bank of Portugal and the comissão do mercado de Valores Mobiliários (CMVM) about specific aspects of the provisions, in particular those related to the Participation Fund, CEMG (if the bonds will have to be converted into capital which, in practice, it will be a privatisation). The scrambled arise in a regulatory environment, banking is tighter and of higher capital requirements on the part of the European Central Bank.
The general assembly is composed of 23 members, the same ones that comprise the general council of the association. On the table is still a recommendation of the Bank of Portugal that does not generate consensus. The supervisor understands that, given that the bank Montepio has a single shareholder, the AMMG, then the assembly should be composed not by the current 23 elements, which allows greater diversity of opinions and enables the various sensitivities are represented, but by a member, which avoids disagreements and deadlocks in decisions.
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