Restructuring, Angola and return to profits: five years of Pedro Leitão at the helm of Montepio
Pedro Leitão can boast of having put Banco Montepio on the path to record profits and of restoring dividend payments for the first time in ten years, but his performance was not enough to persuade the shareholder to keep him in charge for another term – after five years, his tenure has come to an end.
Banco Montepio to appoint former head of the Tax Authority as president, its fourth chief executive in a decade
José Azevedo Pereira, currently at Abanca Portugal, is the next president of Banco Montepio. The Montepio association had been expressing some displeasure, but the opposition wanted to discuss his profile before the appointment.
José Azevedo Pereira is to be the next CEO of Banco Montepio
Despite public reticence from Virgílio Lima, the Mutualist Association has reportedly decided not to reappoint Pedro Leitão as CEO of Banco Montepio after his mandate expired at the end of last year. The bank is said to have settled on José Azevedo Pereira — a former director — as the successor. The move signals a leadership change at Banco Montepio that will shape its strategic direction and investor and member relations going forward.
Montepio says it may sell a majority stake in its insurance businesses
The Mutual Association Montepio Geral (AMMG) says it may sell a majority stake in Lusitania and Lusitania Vida, revealed the group’s chairman, Virgílio Lima, emphasising that it will only proceed with this process after impairments at the insurance companies have been recovered. “We have a set of impairments that date from the previous crisis period, which affected all entities and ...
Montepio mutual admits it may sell part of insurer Lusitânia
“We don't need 100% ownership to operate in insurance,” assures the president of the Montepio Geral Mutual Association.
