Carlos Cid Álvares has been Executive Vice President and CEO of Banco Nacional Ultramarino, S.A. in Macau since June 2018. He is Vice-Chairman of the Macau Banking Association, Member of the Advisory Board of the Monetary Authority of Macau (AMCM), Vice-Chairman of the Standing Committee of the Macau Financial Community for the Preparation of Commemorations, Vice-Chairman of the Macau European Chamber of Commerce (MECC) and President of the Portuguese-Chinese Chamber of Commerce and Industry in Macau.

Carlos Cid Álvares was Executive Chairman of Banco Popular Portugal and CEO and Executive Director of several Banco Popular subsidiaries in Portugal between 2011 and 2017. Since 1984, he has had extensive experience in the banking sector, having been General Director of Banco Comercial Português, Chairman of Millennium Bcp Bank & Trust and Vice-Chairman of Millennium Bcp Banque Privée Genéve.

Academically, he has a degree in Business Management from Universidade Católica Portuguesa.

Carlos Cid Álvares has been a member of the Portuguese Diaspora Council since November 2023.