EFG Bank has strengthened its private banking business in Portugal in line with its 2019-2022 strategic plan and appointed Bernardo Meyrelles do Souto as the new country head Portugal, effective immediately.
With the appointment of Meyrelles do Souto, EFG is pursuing its long-term strategy to develop and expand its presence in Portugal beyond its base in Lisbon in order to further strengthen its footprint in Southern Europe, which is a key strategic market for the bank.
In his new role as country head Portugal, he will drive EFG's growth initiative for the private banking business in Portugal. In particular, he will focus on introducing the bank's distinctive CRO model and its comprehensive investment and wealth management solutions, leveraging EFG's global Investment Solutions capabilities.
He will report directly to Lena Lascari, CEO of EFG Bank (Luxembourg) S.A. Pedro Rego, who successfully launched the bank's business activities in Portugal will remain a member of the Senior Management team reporting to Meyrelles do Souto.
Meyrelles do Souto joins EFG from Deutsche Bank, where he served as chief country officer for Portugal from 2012 to 2019. From 2005 to 2012, he performed the role of branch manager and head of Private Banking & Business Clients in Portugal. Prior to that, he worked at Santander (Portugal) as head of Business Management & Development for Private Banking, Retail & Life Insurance from 2001 to 2005.