The Unicaja Foundation has decided not to renew former president Braulio Medel in his last two positions in foundations dependent on the entity, so the definitive break with the financial institution will take place. Some sources have assured EFE this Tuesday that this means that “Medel will already be history” in the Unicaja Banking Foundation, an entity that he headed until his resignation last June involved in the controversy over management, and it will be “the end point” to his relationship with it.
Braulio Medel will not be proposed to continue in the Unicaja Foundation or in the Unicaja Ronda Foundation, which he continued to chair, which handled three million euros a year and both depend on the parent company, which is how the Unicaja Banking Foundation is considered. Although Medel resigned from the Unicaja Banking Foundation, he will still appear in the other two foundations; but in the renewal proposal that his Board of Trustees will deal with this Thursday, he no longer appears, while other current patrons are included, while new incorporations are being proposed.
The sources speak of a loss of confidence in Braulio Medel in the current stage of the Unicaja Banking Foundation, chaired by José Manuel Domínguez (this foundation is the largest shareholder of Unicaja Banco, the fifth financial institution in Spain). This loss of confidence is in the context of the criticisms raised towards the attitude -during the Medel period- of the four proprietary directors who represent the Unicaja Banking Foundation on the board of directors of Unicaja Banco for acting to the detriment of the bloc of the former Unicaja in that body and in favor of the Liberbank sector.
The non-renewal of Braulio Medel – the great Andalusian financier who created Unicaja in 1991 trust.
These directors were questioned for acting to the detriment of the old Asturian bloc – with a majority coming from the Malaga side of 60 percent compared to 40. Such directors were pointed out for aligning themselves during the Medel period in the Banking Foundation Unicaja with the bloc of the board of directors coming from Liberbank and thus altering the internal distribution of power agreed upon in the merger.