Centeno has a new job: Group insurance adviser ABANCA

O ABANCA announced this Thursday the appointment of the former Minister of Finance Mário Centeno as an independent adviser for the area Life and Pensions, according to a statement sent to the editorials. 

“Mário Centeno was appointed independent advisor to ABANCA Life and Pensions. With this appointment, Abanca takes a step to consolidate solid governance and align the strategic direction of its Life branch with the experience and economic vision of a professional of great prestige in the international financial sphere”, can be read in the published note. 

This appointment, explains the Spanish group, “events at a time when ABANCA reinforces the development of this area, following the growing importance of long-term protection, savings and financial planning solutions.”.

“It is an honor to join the Board of Directors of ABANCA Life and Pensions. I face this challenge with the commitment to contribute with my economic vision and executive experience to continue to strengthen the governance structures and the value offer of the Bank in the subsidiary Life and Pensions”, Mário Centeno said, quoted in the statement. 

The group stresses that Mário Centeno “has a career of over 30 years in the financial sector, in European budgetary policy and in the management of financial crises”.

“ PhD in Economics from Harvard University and professor at the University of Lisbon, he was Governor of the Bank of Portugal between 2020 and 2025 and member of the Board of Governors of the European Central Bank (ECB), where he contributed to the analysis of the labour market and monetary policy. He presided over the Eurogroup between 2017 and 2020 and was Portugal’s Finance Minister from 2015 to 2020,” he said. 

It is also explained that, “with this incorporation, ABANCA revalidates its commitment to institutional rigour, regulatory excellence and the continuous strengthening of the Board of Directors of its strategic subsidiaries”.

What is Shake Life and Pensions? 

The group explains, in the same statement, that “ABANCA Life and Pensions is the insurance subsidiary of ABANCA, specializing in the management and supply of savings products, family protection, pension and pension plans. ABANCA Life and Pensions closed 2025 with revenues exceeding €97 million”.

“The Life and Pensions area also assumes an increasing importance in ABANCA’s strategy in Portugal, following the Bank’s commitment to growth at national level, business diversification and the development of solutions that meet the needs of customers throughout the different stages of life”, it can also be read in the published note.