Pedro Cardoso has been appointed as the new chief executive officer of Banco Nacional Ultramarino (BNU). He succeeds Artur Santos, a bank source told Portuguese news agency Lusa. BNU has 14 branches in Macau and 430 employees. It is a wholly owned subsidiary of Portugal-based Caixa Geral de Depósitos group. Mr Santos will become the new CEO of the Macau offshore subsidiary of Caixa Geral de Depósitos, the same source told Lusa. Mr Cardoso has been one of the directors of Caixa Geral de Depósitos since 2008.
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