Caixa Geral de Depósitos has updated its code of conduct to introduce explicit AI guardrails, mandating human review of content produced by artificial intelligence to mitigate algorithmic bias. The move highlights a growing focus on governance and accountability in financial services, while underscoring that many companies still rely on internal policies that are not formalised within their codes of ethics. The change has implications for compliance, consumer protection and how banks integrate AI responsibly into products and communications.
CTT shareholders approved the appointment of Guy Pacheco as the company's CEO for the 2026-2028 term during a general meeting this Thursday, succeeding João Bento. The company announced the election of the members of the Board of Directors in a statement published on the Securities Market Commission website.
At issue are the resolutions approved at the general meeting on March 10th, which allowed MFE to enter Impresa's share capital, as well as the election of three members to the Board of Directors.
The board of Ramada Investimentos e Indústria has approved the creation of an executive committee and elected Miguel Ângelo Valente Gonçalves as the company's CEO for the 2026-2028 three-year term, the company announced in a statement to the Portuguese Securities Market Commission (CMVM). The Board of Directors deliberated on the establishment of an Executive Committee, for the...
Miguel Maya and Nuno Amado are set to be reappointed to the leadership of BCP until 2029 as CEO and chairman, respectively, but the bank is preparing for two changes to the executive committee and five more to the board of directors. Directors Rui Teixeira (retail) and José Silva Pessanha (risk) are leaving and will be replaced by António...
Cláudia Coelho, Partner of Sustainability and Climate Change at PwC, talks to us about the evolution of ESG in companies, the main challenges they face, and the future.
Rui Pedro Bairrada was barred from entering the credit intermediary company. The target, who became known for rising from office boy to CEO, denies all accusations.
Altri is preparing to change five board members, including the chairman position, where Alberto Castro will be replaced by João Bento, who is leaving his leadership role at CTT. Vítor Bento, president of the Portuguese Banking Association (APB), will lead the remuneration committee. This is the proposal from shareholders Actium Capital (Paulo Fernandes) and Caderno...
The individuals nominated for the 38th edition of the Investor Relations and Governance Awards (IRGAwards) in the CEO, CFO, and IRO categories have been announced. Deloitte released the names competing in the three main segments this Thursday, with the winners to be determined.
Rui Pedro Bairrada, co-founder and chairman of Doutor Finanças, is the subject of disciplinary proceedings following reports of alleged moral and sexual harassment, as reported by Observador (paywall). According to the newspaper, the reported behaviour dates back to his time as CEO and led to the issuance of two notices.
Nuno Mateus Coelho, a cybersecurity expert, details the changes that the new cybersecurity law brings to Portugal, noting that as of this Friday, cybersecurity will no longer be the responsibility of IT technicians and “will come under the control of a company's management.”
Mota-Engil shareholders will vote at the end of April on the election of the new statutory audit firm that will oversee the group for the term running until 2028. The Supervisory Board will present the proposal to appoint Ernst & Young (EY) to the General Meeting.
VASP — Distribution and Logistics has announced the new composition of its Board of Directors and Executive Committee, effective from Monday, March 30. Marco Galinha will chair the Board of Directors as a non-executive director of the company, which belongs to the BEL Group (also a shareholder of DN), while Hernâni Fernandes joins the board as a non-executive member. Manuel Aguiar has been appointed CEO, and Bruna Alves joins the Executive Committee. José Pedro Braz Monteiro assumes the role of deputy director. With the restructuring, Rui Moura's request to step down from his administrative duties was accepted. In a statement, the company says the new governance aims to accelerate its operational and strategic transformation, strengthening its adaptability in a changing sector. VASP apologises to the Government for sending incomplete financial data.
The decision comes a few days after the company acknowledged sending incomplete information to the Government regarding the growing pressure on its business in the country.
The Balsemão family and MediaForEurope have signed a shareholders' agreement that secures control of Impresa, the owner of SIC and Expresso, through Impreger, while also establishing a rule for profit distribution to shareholders. The shareholders' agreement between the two parties has a ten-year duration and can be renewed.
For a long time, diversity, equity, and inclusion (DEI) policies were treated primarily as a social or reputational agenda. Today, however, evidence suggests something different: diversity is also an economic factor. More diverse companies tend to be more innovative, make better decisions, and show better results. Several studies demonstrate this link.
The mystery shareholder of Impresa, Tilway Management Inc, a Panama-based entity with a 1.98% stake, voted against the 17.325 million euro capital increase to be subscribed by the Italian group Media For Europe (MFE). This information was revealed in the minutes of the extraordinary general meeting held on March 10th.
Journalist Hugo Neutel, coordinator of the Business section at Negócios, recalls José Maria Ricciardi's critical voice regarding Ricardo Salgado's leadership, the reports he made to the Bank of Portugal, and the unfulfilled dream he left behind: to restore the Espírito Santo family name. José Maria Ricciardi passed away this Wednesday at the age of 71.
Ageas Portugal Group director Nelson Bessa Machado will step down from executive duties to become a non-executive director of Millennium bcp Ageas, the holding company that owns Ocidental Vida and Ageas Pensões, a partnership in which the Belgian insurance group holds a 51% majority stake. This change, which is still subject to approval by the ASF, was announced this month.
Álvaro Santos Pereira is set to launch an internal debate regarding the future of Board of Directors members once their terms at the bank expire. The Governor advocates for a 'cooling-off' period, noting that retaining them as consultants is not a viable solution.
The former BES manager was Ricardo Salgado's cousin and one of the voices who most contested his leadership, which led to him being seen as a traitor by the family. He died this Wednesday at the age of 71.
José Maria Ricciardi, former administrator of Banco Espírito Santo, passed away this Wednesday, March 25, as confirmed by DN. With a degree in Applied Economic Sciences from the Catholic University of Louvain, Ricciardi built almost his entire career in banking, with international experience marked by several prominent roles. He was president of the Executive Committee of Banco Espírito Santo de Investimento (BESI) from July 2003 and vice-chairman of the board of directors of the same group, having also presided over BES Investimento in Brazil. A cousin of Ricardo Salgado, he challenged the leadership of BES and denounced irregularities in the group's management. At the beginning of the proceedings linked to the collapse of Banco Espírito Santo in 2014, José Maria Ricciardi was the subject of an investigation, though he was never formally named a suspect. The banker ended up playing a decisive role as a witness for the Public Prosecutor's Office. After the group's collapse, Ricciardi cut ties with his cousin Ricardo Salgado. Unlike other members of the Espírito Santo family, he was the only one to retain his status of suitability with the Bank of Portugal, which was never revoked. His involvement in the case and the position he took before the authorities marked him as a central figure in the judicial and administrative developments that followed the BES crisis, distinguishing him from other family members implicated in the investigations. After Banco Espírito Santo collapsed, José Maria Ricciardi committed himself to preserving his symbolic capital and led the sale of Banco Espírito Santo de Investimento (BESI) to the Chinese group Haitong in 2015. He remained in the executive leadership of the entity until the end of 2016. In 2021, in an interview with the newspaper Público, he lamented the fate of the institution that defined Portuguese banking and revealed plans to create a new digital bank with the goal of reputational reconstruction. Ricciardi also served on bodies such as the board of directors of Espírito Santo Financial Group and the general and supervisory board of EDP. Early in his career, he worked at Banco Inter-Atlântico in Rio de Janeiro (1979–1981) and performed financial control functions at the European headquarters of the Espírito Santo Group. Later, he held management positions at Bank Espírito Santo International and BIC, before joining investment banking in 1992 as an administrator of ESSI, assuming the vice-presidency of BESI three years later. In 2018, having already been a member of the supervisory board of Sporting, he was also a candidate for the club's presidency, but was defeated at the polls by Frederico Varandas, the current president of the lions. It was also that year that José Maria Ricciardi joined Optimal Investment, a financial boutique founded by Jorge Tomé, former president of Banif, reinforcing his presence in the sector after leaving the executive leadership of BESI. Ricciardi maintained that BES was solid and blamed the Bank of Portugal for its resolution.
Members of the EDP executive committee received a gross remuneration of 7.9 million euros in 2025, down from the 8.45 million paid in 2024 and the 10.25 million related to 2023, according to the remuneration report released this Tuesday by the utility company and sent to the Portuguese Securities Market Commission (CMVM).
In 2025, Galp Energia spent 1.5 million euros on three former CEOs. Carlos Gomes da Silva was entitled to variable remuneration despite having left the oil company in 2021.
Following an anonymous report that led to the CEO's departure at the beginning of 2025, Galp recorded a record 77 complaints. In 17 cases, the company deemed it necessary to take action.
VASP – Distribuição e Logística reported that an employee sent incomplete financial information to the Minister of the Presidency's office, which may have been misleading, and expressed regret for the incident, offering apologies for the consequences. In a statement, VASP clarified that it became aware on Friday that information had been sent by an employee of the company...
Lawyer and Pérez-Llorca partner Adolfo Mesquita Nunes stated this Tuesday that companies must know how to use artificial intelligence (AI) responsibly and that, especially in human resources, 'human supervision' is necessary. The former CDS-PP deputy was speaking at the ECO conference, 'Reprogramming work', explaining that 'companies have to...'
The Board of Directors of the MDS brokerage group has just appointed Christophe Cornu as Non-Executive Chairman and Ângelo Paupério as Non-Executive Director. José Manuel Fonseca remains Group CEO and Chairman of the Executive Committee, with the rest of the executive team consisting of Group CFO José Diogo Silva and Group COO and CEO Ricardo Pinto dos Santos.
