Sareb approves new, streamlined management structure

Today, Sareb announced the introduction of a new management structure designed to boost the company’s non-institutional business and streamline its overall operations.

With this new structure, the company aims to increase the return on its portfolio – minimising costs and maximising income – in order to repay as much of its outstanding debt underwritten by the Spanish State as possible.

The new Management Committee has an equal gender balance and has been scaled down from nine to six members, one of whom is the Executive Chairman, Javier García del Río and all of whom already form part of the Sareb team. The new structure will strengthen areas relating to non-institutional sales and value creation – two core components in the company’s Business Plan for the coming years – as well as other aspects linked to good governance and Sareb’s social housing partnerships.

The new management team will include a new Head of Real Estate Development, Beatriz Hernández, who will take charge of Sareb’s residential development activity, both directly and via the company’s investment vehicle Árqura Homes. She will also oversee the other business areas in which Sareb actively manages its assets to increase their sales value. After first joining the company and this department in 2013, Beatriz will now be responsible for running all the area’s operations.

The second new addition is Marisa García Camarero, who currently serves as Board Secretary and Head of the Legal Department and will now take on further responsibilities relating to regulatory compliance and internal monitoring. Having joined the company in 2013, Marisa will now hold the position of Sareb’s General Secretary.

Rafael Piaget has been appointed the new Sareb Network Director, tasked with managing the company’s external networks (servicers and other providers) in the areas of loan management, property maintenance and improvements, as well as non-institutional property sales. Rafael joined Sareb when it was first founded in 2013 as a member of the Management Committee.
Ana Aránguez continues in her role as Head of Portfolio Management, the department responsible for business strategy and the day-to-day decision-making for the company’s loan and real estate assets. From now on, the department will also be responsible for the social management of the company’s portfolio, and the housing sold and assigned to public authorities for social welfare purposes.

Leopoldo Puig remains the company’s Head of Finance and Management Control, taking on new responsibilities relating to People Management, Processes and Technology. Both Leopoldo – who previously worked at the FROB (Fund for Orderly Bank Restructuring) – and Ana joined the Sareb team last year.

“This new, more streamlined management structure will enable us to bolster our services, while providing an agile and efficient response to the significant business challenges that lie ahead,” said Javier García del Río, Executive Chairman of Sareb.

This streamlining process will see certain managerial positions removed and some members depart the company. On behalf of the company, the Chairman thanked them all for their hard work over the years and wished them every success for the future.