Board of Directors of the Banco de Portugal
The Board of Directors of Banco de Portugal consists of the Governor, who will chair, one or two Vice-Governors and three to five Directors.
The members of the Board of Directors are chosen from among persons of recognized standing, competence and management experience, as well as knowledge in monetary and banking matters. They are appointed by means of a resolution of the Cabinet, upon proposal of the Finance Minister. They are in office for a term of five years, renewable once for an equal term, by means of a resolution of the Cabinet.
The Governor and the other members of the Board of Directors are independent in accordance with the Statute of the European System of Central Banks and of the Central Bank (ESCB/ECB) and cannot seek or take instructions from Community institutions, the State sovereign bodies or any other institutions.
The members of the Board of Directors are irremovable from office; they may only be relieved from office should any of the circumstances envisaged in Article 14.2 of the ESCB/ECB Statute occur. This relief from office is made by means of a resolution of the Cabinet, upon proposal of the Finance Minister. They may vacate office upon expiry of their term, or due to permanent incapacity, resignation or legal incompatibility.
The Board of Directors is responsible for all the acts required to achieve the purposes assigned to the Bank which do not fall within the exclusive competence of other bodies. On a proposal from the Governor, it may assign to its members responsibilities for one or more sectors comprising one or more services of the Bank.
It is incumbent upon the Governor, inter alia, to carry out the tasks of member of the Governing Council and of the General Council of the ECB, pursuant to the provisions laid down in the Treaty establishing the European Community and in the ESCB/ECB Statute, to represent the Bank, and to act on behalf of the Bank with foreign or international institutions.
Carlos da Silva Costa
Governor. He was born on 3 November 1949. Graduate in Economics by the Faculty of Economics of Oporto University (1973).
He was appointed Governor on 7 June 2010 and reappointed in July 2015.
Vice-Governor. She graduated in Economics from University of Porto; and completed her master’s degree and PhD from University of Reading.
She was appointed Vice-Governor in September 2017.
Director. He graduated in Corporate Organisation and Management from ISCTE of the Technical University of Lisbon.
He was appointed Member of the Board of Directors in September 2014.
Luís Laginha de Sousa
Director. He graduated in Economics from Universidade Católica Portuguesa, and completed his MBA at Universidade Católica Portuguesa.
He was appointed Member of the Board of Directors in September 2017.
Ana Paula Serra
Director. She graduated in Economics from University of Porto, completed her MBA from Instituto Superior de Estudos Empresariais da Universidade do Porto and completed her PhD in Financial Economics at London Business School.
She was appointed Member of the Board of Directors in September 2017.