Banco de Fomento has new boss

Portugal’s Banco de Fomento (BPF) has appointed Hugo Roxa as its executive director to replace Tiago Simões de Almeida who resigned this week.

“We are beginning a fit and proper process with the Bank of Portugal with the appointment of Hugo Roxo” informs the institution led by Ana Carvalho and Celeste Hagatong in a communiqué sent to news desks on Wednesday.
Hugo Roxo had been the commercial director of Bankinter since 2018, reporting directly to the bank’s board and has a long career in banking including Barclays (2008-2016) and Santander (1999-2008). He has a degree in Business Management from the Universidade Lusíada ) Porto.
The development bank also highlights that Hugo Roxo has a “profound knowledge of the Portuguese business system and experience in planning strategies and commercial positioning.”

Photo Lusa – Estela Silva