Foreign news: Former Banco Espirito Santo head under arrest 28 July 2015 3:16PM Banking Day staff Foreign news, The former head of failed Portuguese bank Banco Espirito Santo has been placed under arrest, the BBC reports. Ricardo Salgado was forced to resign from the bank last December, after 23 years in charge, and has since faced questioning over fraud and money laundering. The bank is operating under a government bailout plan.