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| Paulo Macedo, CEO of Caixa Geral de Depósitos |
When you’ve taken the scalpel to the national health care budget during the worst economic crisis in living memory, doing the same to a bloated state-owned bank might look like child’s play. That, at least, is what the Portuguese government was hoping when it appointed Paulo Macedo as the new CEO of Caixa Geral de Depósitos (CGD), the state-owned bank that has not made a net profit since 2010.
A former board member at Millennium BCP, 53-year-old Macedo served as Portugal’s minister of health from 2011 to 2015; under his watch health spending contracted dramatically.
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