Ex-Lloyds bank boss invited to be vice-chairman of Novobanco by BPCE

Celebrity Portuguese banker, Sir António Horta Osório, has been invited to become the vice chairman of Novobanco which is now owned by the French banking group BPCE.

The proposed appointment of the banker who famously rescued the finances of troubled UK bank Lloyds, which he ran between 2011 and 2021, and earned a knighthood from Queen Elizabeth II,  would not impact the current role of CEO Mark Bourke.

The information was first reported by *Jornal Económico* and subsequently confirmed to *Negócios* by a source “in the know”. The invitation to the Portuguese banker was reportedly extended directly by Nicolas Namias, the CEO of BPCE.

The approach to the Portuguese banker comes as Novobanco is undergoing an integration process with BPCE, involving adjustments to its executive structure.

The list of proposed new members for Novobanco’s board of directors has reportedly already been submitted to the Bank of Portugal for the regulator’s “fit and proper” assessment.

When contacted by Negócios regarding the invitation to the Portuguese banker, BPCE confirmed—without explicitly naming Horta Osório—that it is “currently analysing various options for the evolution of Novo Banco’s governance model, aligning it more closely with market best practices in Portugal in order to strengthen support for the institution’s strategic development.”

Sources: Jornal Ecónomco and Negócios