Suspicious operations: Carlos Brandão fired from Novo Banco after complaint to the PGR

Administrator fired for just cause due to “suspicious financial operations carried out in his personal sphere”. Novo Banco filed a complaint with the PGR and guaranteed that the case does not “in any way” involve the institution.

The Supervisory Board of Novo Banco approved this Tuesday the dismissal for just cause of Carlos Brandão from the position of member of the Board of Directors and head of Risks, with immediate effect, after suspicious financial transactionsaccording to market information.

“This decision was taken following the identification, through the Bank’s internal processes, of suspicious financial transactions carried out in your personal spherewhich gave rise to a complaint to the authorities”, reads the note sent to the Securities Market Commission (CMVM).

Novo Banco detailed that the operations in question are not related to or involve, “in any way”, the institution that’s why, “have no impact on customersin customer accounts or operations, in the financial position or activity of the Bank, in its commercial operations, in the risk management system or in its employees”.

After the detection of suspicious transactions, explains the institution led by Mark Bourke, the “bank initiated a internal investigation and filed a complaint with the Public Ministry, which led to the beginning of an investigation that is now ongoing.”

With the departure of the former director of Santander, the areas supervised by the administrator with the risk area will be assured by the bank’s CEO, Mark Bourke, according to .

According to Novobanco’s 2023 report and accounts, cited by , Carlos Brandão received in September 2023 in advance 75 thousand euros as a Performance Bonus for 2023, the year in which he had a salary of 320 thousand euros gross, plus 72.5 thousand euros of variable remuneration from 2022 — a total of 392.5 thousand euros.