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Portugal's Novo Banco names new chief executive

  • Eduardo Stock da Cunha is the new chief executive of Portugal’s Novo Banco.

    Stock da Cunha was named as the boss of the “good bank” after the previous head and two key board members resigned.

    Facing a host of troubles, the Banco Espirito Santo (BES) was split into a ‘good’ bank and a ‘bad’ bank in August. 

    Stock da Cunha, who has nearly three decades of experience as a banker, will “lead an experienced team,” according to a statement by the central bank of Portugal.

     

    Tagged as: Eduardo Stock da Cunha, chief executive, Portugal, Novo Banco, good bank, bad bank, Banco Espirito Santo, BES, business news