LISBON, July 14 Banco Espirito Santo said on
Monday its board put in place new executives who were
originally supposed to take over at the end of July, after the
Bank of Portugal accelerated management changes there aiming to
distance the bank from the financial woes of the bank's founding
Espirito Santo Financial Group, which holds a 25
percent stake in BES, has previously named respected economist
Vitor Bento to be the new chief executive of the bank and Joao
Moreira Rato, who heads Portugal's IGCP debt agency, to be the
chief financial officer. Jose Honorio becomes deputy CEO.
The three replace the Espirito Santo family members,
including its patriarch Ricardo Espirito Santo Salgado, who had
agreed to resign earlier. A shareholder meeting set for July 31
is yet to ratify the appointments, BES said.
(Reporting By Andrei Khalip)