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Portuguese government appoints new CEO of state-owned CGD bank

Xinhua, December 3, 2016 Adjust font size:

The Portuguese government has appointed Portugal's former Health Minister Paulo Macedo to be the next CEO of state-owned bank Caixa Geral de Depositos, the ministry of finance revealed on Friday.

"The government decided to invite Paulo Macedo to be the next CEO of Caixa Geral de Depositos (CGD), and the invitation has been accepted," the ministry of finance said in an official statement.

It also revealed that Emilio Rui Vilar, a former Vice Governor of the Bank of Portugal, was appointed as the bank's chairman.

"The government is, together with Paulo Macedo and Emilio Rui Vilar, working in the composition of the rest of the council of administration," said the statement.

The current president of CGD, Antonio Domingues, resigned last Sunday, but will remain in duty until the end of December.

His resignation came amid talks to recapitalize the bank, which was agreed by Portugal and the European Commission in August, but has been delayed due to a court ruling ordering the bank's team to declare income and assets. Endit