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Abstract(s)
The “Banco Espírito Santo” (BES) was the oldest and one of the largest Portuguese banks: it was created in 1869, precisely at the same year that Goldman Sachs was founded, and it was resolved in 2014.The present paper aims to briefly explain how a centenary bank, that survived to two World Wars, prevailed over different political regimes (Monarchy, Republic, a Revolution), and endured diverse economic regimes (nationalization, subsequent reprivatisation), has come to an abrupt end.
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Keywords
Banking Banking Scandal Bank resolution Governance of financial institutions