The meeting also approved Sareb’s new management structure, in line with best governance practices
The General Meeting of Shareholders of the Management Company for Bank Restructuring Assets (Sareb) today approved the addition to the Board of Directors of Leopoldo Puig, who was subsequently appointed CEO of the company.
The meeting also approved Sareb’s new management structure, in line with best governance practices, in which Javier Torres will serve as the company’s non-executive chairman, and both he and Leopoldo Puig will report directly to the board of directors.
Torres will continue to lead the governance and institutional dimension of the company with the aim of ensuring the smooth functioning of the governing bodies, strengthening institutional representation capacity and ensuring cooperation with government departments.
Likewise, Torres will be responsible for the areas of the Secretariat General – including legal advice, regulatory compliance, internal control and security – and communications, and will work closely with the audit function, subject to the Audit Committee of the Board of Directors. management.
Leopoldo Puig, the new CEO, was previously Finance and Corporate Director. He is an inspector of the Bank of Spain on leave and joined Sareb from FROB in 2020. Over the past two years, it has led the implementation of a new management control model aimed at efficiency and cost savings, and has worked to adapt the corporate structure to the current corporate strategy, focusing on retail real estate sales and generating value of the portfolio through the development of activities such as real estate development.
“The appointment of Leopoldo Puig is key to meeting the challenges of this new phase, in which the company must make progress in its economic mandate aimed at maximizing the repayment of the state-guaranteed debt,” emphasized the Sareb’s president, Javier Torres, who emphasized that these challenges will be addressed in a way that is compatible with deepening measures that ensure sustainable management of the agency’s portfolio.
Javier García del Río, for his part, will complete his internship in Sareb in the coming days, having completed work to support the transfer of powers requested by the board when he submitted his voluntary resignation on April 5.
The board wanted to thank the manager for his “enormous dedication and commitment” to the head of Sareb.
At the same time, at today’s meeting, the Board of Directors approved the appointment of Carmen Allo as independent director and Julián Navarro as its own director representing the FROB, thus renewing the company’s supreme control and governance body, which still consists of nine directors exists, is completed, three of whom are independent.
On the other hand, the meeting approved the 2021 annual accounts and the management report for the same period.
So far, the Secretary General, Marisa García Camarero, and the Director of Portfolio Management, Ana Aranguez, have informed the company of their voluntary resignation from their respective positions for personal reasons. Consequently, Sareb has approved the appointment of Jorge Pipaón and Lucía Graña as new directors of the General Secretariat and the Portfolio Management Department, respectively.
The appointment of José Maria Arroyo as the new Finance and Corporate Director, replacing Leopoldo Puig, has also been approved. These directors will be members of the executive committee.
Jorge Pipaón, who will, among other things, serve as secretary to Sareb’s board of directors, is a state attorney with nearly 20 years of experience in the public and private sectors. Since 2019, he has been president and manager of Cofivacasa, a state-owned public sector company whose primary purpose is to liquidate companies and manage assets.
In addition, he was a partner in public law at the Toda & Nel-lo Abogados office and technical secretary general of the Ministry of Finance, and worked as a state attorney at the Ministry of Economic Affairs and the Higher Council for Scientific Research (CSIC), among others.
Lucía Graña has a degree in economics from CEU San Pablo University and a Management Development Program from IESE Business School. With a career spanning more than 15 years in the financial and real estate sector, Graña joined Sareb in 2013, where he held various positions in the areas of financial assets and finance. In 2020 she was appointed Director of Management Control and for several months she has been working as Deputy Director of Portfolio Management. Before that, he held various positions of responsibility at Banco Popular and Banco Pastor.
José María Arroyo is an inspector of the Bank of Spain on leave and has more than 25 years of experience in the private and public spheres. For the past nine years, he has held various positions at Grupo Santander, including head of the Internal Models Validation Department. Previously, he held various responsibilities at the Bank of Spain in inspection tasks of credit institutions.
Source: La Verdad
I’m Wayne Wickman, a professional journalist and author for Today Times Live. My specialty is covering global news and current events, offering readers a unique perspective on the world’s most pressing issues. I’m passionate about storytelling and helping people stay informed on the goings-on of our planet.
