Portugal’s largest listed bank Millennium BCP has hired Duarte Francisco as its new equities fund selector. Francisco, who replaces Rita Appleton, will select and monitor Millennium BCP’s list of funds used by its discretionary portfolios and private banking clients, as well as its retail internet customers, Ines Correia Oliveira, head of Fund Selection at Millenium BCP told InvestmentEurope. […]
2012 will be a difficult year for Portugal and the Portuguese asset management industry which will face rising competition fort scarce resources and an uncertain global environment.
The Fitch Ratings agency has downgraded six Portuguese banks’ viability ratings amidst deepening uncertainty caused by the eurozone crisis.