José Sena Goulão / LUSA
The governor of the Bank of Portugal, Álvaro Santos Pereira
The governor of Banco de Portugal reinforced his stock portfolio after taking office (last October). However, the European Central Bank code does not allow this.
Álvaro Santos Pereira has been governor of Banco de Portugal since October 6, 2025.
About two months later, according to , he reinforced his investment portfolio, buying Galp Energia shares (17 and 29 December) and the Jerónimo Martins (29 December).
The person responsible communicated, on January 12th, the movements to the BCE – European Central Bank at the beginning of 2026, which the ordered the transactions to be reversed.
This is because, according to the same newspaper, the regulation prevents operations with shares to senior central bank managers in the respective regions.
The Bank of Portugal confirmed, to the morning newspaper, that “as part of the management of its financial investment portfolio, Santos Pereira increased its investment in shares of Galp Energia SGPS, SA and Jerónimo Martins SGPS, SA”. The value of acquisitions is less than 50 thousand euros.
“After clarification with the European Central Bank, this reinforcement was reverseda process that is finished”, he clarified.
