June 20, 2014 / 7:43 AM / in 4 years

Bank of Portugal seeks BES CEO, management change- sources

LISBON, June 20 (Reuters) - The Bank of Portugal wants the country’s largest listed bank Banco Espirito Santo to have a new CEO and a more professional team, with management changes expected soon, three sources familiar with the situation told Reuters.

“There was a meeting yesterday at the Bank of Portugal and there should be some changes in the bank’s management, including the departure of the CEO. The Bank of Portugal wants a team that is perceived as more professional,” one source said. The central bank team met with representatives of the Espirito Santo family that lost control of BES after a recent capital increase.

Local media have said the CEO, Ricardo Espirito Santo Salgado, was likely to announce his resignation on Friday. Trading in BES shares has been suspended on Friday. BES could not immediately be reached for comment. (Reporting By Sergio Goncalves, writing by Andrei Khalip, editing by Laura Noonan)

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