Macau (MNA) – The former CEO of local bank Banco Nacional Ultramarino (BNU), Pedro Cardoso, will be the head of the Hong Kong investment company Bison Capital Financial Holdings (Hong Kong) Limited (Bison Financial) international department, Portuguese newspaper Jornal Económico reported.
Mr. Cardoso was previously named as the future CEO of Banif Banco de Investimento, S.A. (Banif Investment Bank), which was acquired by Bison Financial – a subsidiary of Bison Capital Holding Company Limited – from Portuguese company Oitante on June last year and rebranded as Bison Bank.
However according to the newspaper, a recent audit report conducted by consultancy firm EY on the management of Portuguese banking group Caixa Geral de Depósitos (CGD) – the parent company of BNU – in the years between 2000 and 2015 revealed some management decisions said to have been prejudicial to the group’s results.
Fearing the Portuguese financial authorities might reject Cardoso’s appointment, Bison Financial then have decided to remove his name from the list of administrators submitted to the financial authority, the newspaper alleged.
Meanwhile Bison Bank has announced Bian Fang, a Chinese banker with ‘more than 30 years in investment banking and asset management between Beijing, Hong Kong and London’ as the proposed Executive Director appointment of the bank.
Previously Bison Financial had also announced Cardoso would hold a key management role at Mozambican investment bank, Banco Mais, in which the Hong Kong company had purchased a 48 per cent share and partnering the financial institution largest shareholder, Macau-based company Geocapital Holdings Limited S.A.
He has occupied the position as Banco Mais Non-Executive Director sine July, 2018.
Cardoso held the position as CEO of BNU between 2011 and 2017, being succeeded by Carlos Cid Álvares.
