Former Finance Minister Fernando Teixeira dos Santos is the name that is being said to be the next president of the Portuguese-Angolan bank BIC Portugal, where Isabel dos Santos has 42.5%. PUBLIC found that the choice of Teixeira dos Santos has been communicated informally to the Bank of Portugal (BoP) which has also made it clear that will not object.
The indication economist Teixeira dos Santos, 64, to lead the BIC Portugal over the next three years comes after the boP have denied the suitability of registration for the exercise of those functions Jaime Pereira, who in recent years has been number two Luís Mira Amaral, whose term ended in December.
with the probable Teixeira appointment of Santos, u m name with political weight with the current executive and financial experience (at once for being minister with the authority of the sector), the supervisor will conditions to complete the application for suitability for registration of new governing bodies of the institution. A process that has dragged on for four months in the middle of controversy.
The BoP has not yet officially received the lists with the names of the new board members of BIC Portugal, where you can highlight the former Minister of Finance José Sócrates, who starred in 2011, an arm of the railroad in the request outside help.
PUBLIC sought unsuccessfully to obtain comment from of Teixeira dos Santos, who had been appointed by the government of António Costa to join the committee that will, over the next three years scrutinizing the implementation of the mission statement of Caixa Geral de Depósitos (CGD). And to evaluate the management of Antonio Domingues. If it is confirmed that the invitation was accepted BIC Portugal, the former minister will not remain on the committee.
The invitation to the former ruler and his possible acceptance will unlock the suitability of registration granted by the BoP to businesswoman Isabel dos Santos will integrate management does not executive BIC Portugal. In 2015, the economist came to be appointed President of Caixa Económica Montepio Geral, but Teixeira dos Santos himself would eventually report in May of that year that “after long reflection, thought fit to not accept that invitation.”
Once implemented the BoP’s recommendations for the BIC Portugal to introduce improvements in its procedures, including compliance, the obstacles were removed in relation to the confirmation of the suitability of Teles (which is also the front of the executive committee of BIC Angola), with the second shareholding in the capital (37% ) Portuguese institution that has been non-executive chairman in previous mandates. The same can not be passed to former Vice President Jaime Pereira, the first to be challenged by shareholders to replace Mira Amaral.
The performances of Jaime Pereira and Fernando Teles BIC Portugal were subject of criticism by the BoP, as appears from a report released by the Express 11 May. In the context of an inspection, the apon authority tou serious flaws to the bank’s management, in particular, the role of Fernando Teles as non-executive chairman.
contrary to what occurs in other financial companies, banks managers can only perform the functions after the boP confirm its suitability (or reassessment if not the first). And it is this process that is underway, with the supervisor to make reinforced approaches to the institution.
In 2011, BIC bought in the context of privatization, the Portuguese Bank Business (BPN) for 40 million, which gave him access to a commercial network of over 200 branches. BIC Portugal has its origin in Banco BIC Angola, born in 2005, joining Isabel dos Santos, Fernando Teles and Américo Amorim. In 2014, Isabel dos Santos and Teles bought the shares of Américo Amorim (25%) and Antonio Streets (10%).
Whether Isabel dos Santos, Teles want to have through of Santoro and BIC, about 21% of BPI, which is now waging a shareholder war with both sides in the confrontation: the Spanish CaixaBank and the Angolan Santoro.
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