Management Board


Chair: Luís Laginha de Sousa
Vice-Chair Inês Drumond
Board Member: José Miguel Almeida
Board Member: Juliano Ferreira
Board Member: Teresa Gil


Luís Laginha de Sousa graduated in Economics at the Portuguese Catholic University (1988) where he also completed his MBA (1995). He attended the Corporate Finance Programme at the London Business School (2004).

Luís Laginha de Sousa was Member of the Board of Directors of Banco de Portugal from September 2017 to November 2022. Before joining Banco de Portugal he held various managerial roles in Portuguese and multinational companies and was, among other roles, deputy head of ICEP - Investimentos, Comércio e Turismo de Portugal (1993 - 1998); executive director of Caixaweb SGPS and  various companies of the Caixa Geral de Depósitos Group (2000 - 2005); Chief Operating Officer of Euronext Lisbon, S. A. (2005 - 2010); Chairman and CEO of Euronext Lisbon, S. A. and of Interbolsa, S. A. (2010 - 2016).

From 1995 to 2017, Luís Laginha de Sousa was a lecturer at the Portuguese Catholic University. 

Chair of the Management Board of the CMVM since December 2022.



Inês Drumond has a PhD in Economics from the School of Economics and Management of the University of Porto (2007) and she received an MSc and an Undergraduate degree from the same University. Between 2014 and 2022 she was deputy director of the Financial Stability Department of Banco de Portugal. Her previous professional experience includes the roles of advisor at the European Commission's Directorate for Structural Reforms and Competitiveness of the Directorate-General for Economic and Financial Affairs (DG ECFIN) between 2012-2013 and as director-general of the Planning, Strategy, Evaluation, and International Relations Office (GPEARI) of the Ministry of Finance between 2009 and 2012.

Inês Drumond was assistant professor at the School of Economics and Management of the University of Porto (2007-2013).

Vice-Chair of the Management Board of the CMVM since December 2022.  



Graduate, MBA, Master's degree in Management from the Instituto Superior de Economia e Gestão (Lisbon School of Economics & Management) of the University of Lisbon. He joined the CMVM in 1992, holding management positions since 1999 and advising the Management Board since 2011. As of June 2017, he carried out both the position of advisor and that of coordinator of the CMVM Entity Supervision Area, which encompasses the Department of On-Site Supervision, the Department of Ongoing Supervision and the Department of Authorisations and Registrations.

Assistant Professor at ISEG - Lisbon School of Economics & Management - where he has taught since 2000 the subjects of Corporate Finance, Investment Policy in Financial Assets, Financial Engineering Case Studies and Financial Analysis, at undergraduate, postgraduate or master's level. Since 2012 he has collaborated with Católica Porto Business School, teaching Asset Valuation and Mergers and Acquisitions at postgraduate and executive master level.

Board Member of the Management Board of the CMVM since February 2019.  



Juliano Ferreira holds a Law degree from the Coimbra University, a Postgraduate degree in Securities Law from the University of Lisbon and a Master's degree in Law from the Nova Lisbon University.

He was director of the Issuers Department of the Portuguese Securities Market Commission (CMVM) from June 2017 to November 2022. Between 2008 and 2017 he held technical functions in the Markets, Issuers, and Information Department of the CMVM, where he began his internship in 2007.

Juliano Ferreira teaches post-graduate courses and is the author of several academic articles on securities law.

Board Member of the Management Board of the CMVM since December 2022.  


Teresa Gil holds a degree in Business Organisation and Management from the Instituto Superior de Ciências do Trabalho e da Empresa (ISCTE).

Between January 2012 and November 2022, she held the position of deputy director general for tax on income and International Tax Affairs at the Tax and Customs Authority (AT) and, inherently, of member of its Management Board. Previously, she held the following roles in the former Directorate General for Tax: deputy director general (2010 - 2011), director of International Relations Services (2008-2010) and director of Planning and Information Systems Services (2006-2007). She was also senior manager of the Tax Department of KPMG, Auditores, S.A (2002-2004), advisor to the Secretary of State for Tax Affairs (2001-2002) and advisor to the Minister of Finance (2000-2001). 

Teresa Gil lectured taxation within the Business Management degree at the Lusíada University of Lisbon (1993-1996) and at the Instituto Superior de Gestão e Economia (University Institute for Management and Economy) from 2009 to 2010. 

Board Member of the Management Board of the CMVM since December 2022.