Banco de Portugal, as resolution authority, has defined the terms of the contract for hiring Mr Sérgio Monteiro as PMO (Project Management Officer) of the Novo Banco sale project, with the respective costs being borne by the Resolution Fund. As referred to in the press release of 29 October 2015 (available on Banco de Portugal’s website in Portuguese only), Mr Monteiro’s hiring by the Resolution Fund is warranted due to the complexity and the challenges associated with the Novo Banco sale process. Hence, it was necessary to find a person of recognised standing and great experience in such operations who could ensure the coordination and management of the whole operation, including the monitoring of the transformation programme to be implemented by Novo Banco, which is a key condition for its sale.

Furthermore, Mr Monteiro maintains the contractual link to his employer, Caixa – Banco de Investimento, SA, which is part of Grupo Caixa Geral de Depósitos. Thus, the contract for the provision of services, which will last for twelve months, stipulates that Mr Monteiro will receive a salary equal to that earned in Caixa – Banco de Investimento, SA before exercising the task of Secretary of State for Infrastructure, Transport and Communication. These figures may be consulted in Mr Monteiro’s income statements filed at the Constitutional Court since 2011, in accordance with the requirements governing the undertaking of government posts.

A graduate in Management from Faculdade de Economia of Universidade de Coimbra, Mr Monteiro is also a post-graduate in Business Sciences from the same Faculty, and has attended an ISCTE  Specialisation Course in Finance. He has also held various management positions in the field of banking and transport.

Lisbon, 27 November 2015