Bank of Portugal appoints new CEO to Novo Banco

The Bank of Portugal

The Bank of Portugal has appointed Eduardo Stock da Cunha, a director at Lloyds Banking Group in London, as the new CEO of Novo Banco, after the resignation of the previous administration.

Vítor Bento, José Honório and João Moreira Rato announced their resignation from Novo Banco, the ‘good bank' created as part of the central bank's intervention in Banco Espírito Santo (BES). According to a statement, they are stepping down due to circumstances that "profoundly" altered the "nature of the chall

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