The Témpore Properties’ Board of Directors has held its first meeting to approve certain agreements relating to both the company’s internal procedures and to the MAB listing procedure. The main administrative body of the Real Estate Investment Trust (REIT) launched by Sareb comprises five members: three Independent Directors, one Executive Director and one Proprietary Director.
Juan Ramón Dios Rial, Head of Real Estate Development at Sareb, has been named Executive Chairman of the Témpore Board of Directors. With more than 25 years of experience in the national and international finance sector, he has held positions at companies including TSB Bank, Citigroup, General Electric Capital Bank and Barclays Spain.
Nicolás Díaz Saldaña has been appointed CEO of the REIT. Currently Head of Lease Management for Sareb, he will be Témpore’s only Executive Director. Prior to joining Sareb, he worked in the finance sector, at BBVA, where he held various senior management roles in Spain and other European countries. He also has experience in the real estate sector, having been International Director at Metrovacesa and having also sat on the Board of Directors for Gecina, the second largest French REIT.
The Board’s three Independent Directors will also form part of the Auditing Committee and the Remuneration and Appointments Committee. Between them, they boast a wealth of experience in the real estate market, regulatory compliance and risk monitoring in the finance sector.
Socorro Fernández Larrea boasts over 25 years of experience in the engineering and construction sector, where she worked with companies belonging to Grupo Ferrovial and COPISA. She was also a member of the Advisory Committee for Zeltex (2015-2016) and has sat on the Board of Directors for listed Spanish company Amper (2014-2017). She is currently CEO of the consultancy firm Justnow, and also sits on the board of REE and the Mexican firm Cal y Mayor.
Rafael de Mena Arenas has a 25-year career in the world of auditing and financial management at credit institutions. He started his career at PwC, before joining Banco Popular in 1987, where he held various managerial positions and represented the bank on Sareb’s Board of Directors between 2014 and 2017.
Galo Juan Sastre Corchado began his professional career in 1987, working as a financial analyst at Banco Pastor and Midland Bank (HSBC). In 1989 he moved to the CNMV where he held various managerial positions. In 2007 he joined Deutsche Bank España, where he remained Head of Compliance until 2013, when he joined Grupo Andbank as Head of Compliance and was appointed a member of the Executive Committee.
The secretary of the Témpore Properties Board is Teresa Palacios Blasco, Director of the Corporate Legal Department at Sareb, whilst Rebeca Durán, Corporate Advisory Manager at Sareb has been named Deputy Secretary of the Board.
During the Board of Directors’ first meeting, the internal operating procedures of the board itself were approved, as well as the Internal Code of Conduct that will govern the listed company. The meeting also saw Pelayo Barriga appointed as Témpore Properties’ new Chief Financial Officer (CFO). Until now, He was Financial Manager at Sareb.
The REIT manages more than 1,500 rental properties, and is currently focusing its efforts on its listing on the MAB, which will take place during the next few weeks, once the required formal procedures have been completed.