All that was missing was the ‘green light’ from the European Central Bank (ECB) for Unicaja Banco to carry out the appointment of Isidro Rubiales as the entity’s new CEO. An approval, which was confirmed this Wednesday when the institution announced the corresponding regulatory authorizations, which allow the incorporation of the new director to the board of directors, who replaces Manuel Menéndez, and the three members in office. . independents, Antonio Carrascosa, Rocío Fernández and Inés Guzmán.
The bank was awaiting approval from Frankfurt since it decided on July 31 to appoint Rubiales as the bank’s new chief executive, after having dismissed Manuel Menéndez on June 1. The new CEO was until now in the general management attached to the president, that is, he was the ‘right hand’ of the current executive president, Manuel Azuaga. He was in charge of control and relationship with supervisors.
The executive has a degree in Economics and Business Sciences from the University of Malaga, with a specialization in Public Finance. He has more than 30 years of experience in the financial sector. At Unicaja, he has held different positions of responsibility, both in Accounting, Control and Strategy. The bank has highlighted the “relevant role” that Rubiales has played in the integration processes carried out by Unicaja (Banco Ceiss and Liberbank).
Agreement after the merger with Liberbank
This change in the bank’s leadership is included in the process of remodeling the board of directors that the entity has been addressing after its merger by absorption with Liberbank in July 2021.
Specifically, the merger agreement established that, within two years of the operation, that is, before July 30, 2023, the board of directors must modify the governance model of Unicaja Banco, in such a way that the Chairman of the board, Manuel Azuaga, would leave his executive duties and the CEO, Manuel Menéndez, would be re-evaluated.
The ECB has also given its authorization for the independent directors Antonio Carrascosa Morales (former director of the Banking Orderly Restructuring Fund), Rocío Fernández Funcia (independent director of Avanza Previsión and Cofides and former partner responsible for Capital Markets) to join the board of directors. of PwC) and Inés Guzmán Arrue (head of Accenture Operations in Spain, Portugal and Israel).