Portugal's BCP Bank Appoints Santander Totta Chairman As CEO

Banco Comercial Portugues SA (BCP.LB) said Monday the chairman of Portugal's Santander Totta SA, Nuno Amado, who just resigned, has agreed to take over as BCP's chief executive.

In a short statement, BCP said Amado will be included in a list submitted to shareholders at the next general assembly.

Banco Santander Totta said Sunday that Amado had resigned from his post and the bank's current director, Antonio Jose Sacadura Vieira Monteiro, would replace him.

BCP is undergoing a structural change as part of its efforts to improve capital levels. The bank's current CEO, Carlos Santos Ferreira, told a local newspaper last week that the bank needed fresh blood at the helm.

-By Patricia Kowsmann, Dow Jones Newswires; [phone]; [e-mail]