Portugal
Downfall of a dynasty: The last days of Ricardo Salgado and Banco Espírito Santo
Bankers in Lisbon say the demise of BES is a watershed moment for the country: the turning point when old Portugal became new Europe. Ricardo Salgado tried every trick he knew to save his empire, but found that the Portuguese establishment could not – or would not – save him. … read more >>
Espírito Santos and Queiroz Pereiras: Duel of two dynasties
Ricardo Salgado went to war with a rival pillar of the Portuguese business establishment in his frantic efforts to shore up Espírito Santo group. But Pedro Queiroz Pereira had the last laugh…. For a man steeped in family honour, there is a rueful irony in the fact that it was … read more >>