Government to reshuffle development bank’s management

 In Banks, Development banks, Economy, News, Portugal 2030, Portugal RRP

The Government is preparing to change the structure of the administration of Portugal’s development bank, Banco do Fomento, in November, according to Jornal Económico in a report today.

The current administration’s term ends at the end of next month, when the current CEO, Ana Carvalho, is expected to leave.

In her place, the Ministry of Economy, led by the Minister of the Economy Pedro Reis, should nominate Gonçalo Regalado, current marketing director for companies, corporate and SMEs at Millennium BCP.

Despite the changes, the Government denies it has “any intention of dissolving the development bank”.