José Luís Areal Alves da Cunha has graduated in Finance (1972/1973) from the Universidade Técnica de Lisboa (Instituto Superior de Economia, today the LISBOA School of Economics and Management of the Universidade de Lisboa) and obtained in 1986 a Master degree in Business Management at the same University.

Abílio Ançã Henriques has graduated in Finance (1972/1973) from the Universidade Técnica de Lisboa (Instituto Superior de Economia, today the LISBOA School of Economics and Management of the Universidade de Lisboa) and subsequently completed a specialization in Top Business Management in a program conducted by AESE (Portugal).

José Duarte Assunção Dias has graduated in Finance (1972/1973) from the Universidade Técnica de Lisboa (Instituto Superior de Economia, today the LISBOA School of Economics and Management of the Universidade de Lisboa).

António Baia Engana has graduated in Economics (1975/1976) from the Universidade Técnica de Lisboa (Instituto Superior de Economia, today the LISBOA School of Economics and Management of the Universidade de Lisboa) and has a BA in Accounting from the Instituto Comercial de Lisboa (1968/69).