{"id":36480,"date":"2022-04-05T10:55:00","date_gmt":"2022-04-05T09:55:00","guid":{"rendered":"https:\/\/www.sareb.es\/?p=36480"},"modified":"2022-04-11T12:57:59","modified_gmt":"2022-04-11T11:57:59","slug":"the-frob-formally-takes-effective-control-of-sareb","status":"publish","type":"post","link":"https:\/\/www.sareb.es\/en\/the-frob-formally-takes-effective-control-of-sareb\/","title":{"rendered":"The FROB formally takes effective control of Sareb"},"content":{"rendered":"\n<div class=\"wp-block-image is-style-default\"><figure class=\"aligncenter size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"900\" height=\"675\" src=\"\/wp-content\/uploads\/2021\/04\/sareb-sede.jpg\" alt=\"\" class=\"wp-image-16979\" srcset=\"\/wp-content\/uploads\/2021\/04\/sareb-sede.jpg 900w, \/wp-content\/uploads\/2021\/04\/sareb-sede-300x225.jpg 300w, \/wp-content\/uploads\/2021\/04\/sareb-sede-768x576.jpg 768w\" sizes=\"auto, (max-width: 900px) 100vw, 900px\" \/><\/figure><\/div>\n\n\n\n<p>Today, the FROB has formalised its acquisition of 4.24% of Sareb\u2019s share capital increasing its shareholding to 50.14% and taking effective control of the company as per Royal Legislative Decree 1\/2022.<\/p>\n\n\n\n<p>As a result, Sareb has amended its articles of association to reflect the new shareholder structure and formalised the exit of the proprietary directors representing private shareholders.<\/p>\n\n\n\n<p>With this new shareholder structure, the Sareb Board of Directors has today named Javier Torres, until now proprietary director representing the FROB, the company\u2019s new executive chairman, replacing Javier Garc\u00eda del R\u00edo, who has resigned from the position for personal reasons.<\/p>\n\n\n\n<p>Javier has agreed to remain involved in the company as managing director, alongside the executive chairman, thereby helping it to achieve the objectives set out for the company.<\/p>\n\n\n\n<p>Javier Torres forms part of the High Corps of Spanish State Economists and Trade Experts, benefitting from a wealth of experience in both the public and financial sectors. From 2017 to 2019 he was the director of Resolution and Strategy at the FROB. Prior to that he worked at Banco Santander, where he held various positions in the Risks department, Treasury, in the industrial group, in the Wholesale Bank \u2013 alongside the vice chairman \u2013 and in the leasing, confirming and factoring subsidiary companies.<\/p>\n\n\n\n<p>He also worked at ICEX, in the San Sebasti\u00e1n Regional Economics and Trade Management team and has lectured on Microfinance in the Economics Faculty of the Universidad Complutense.<\/p>\n\n\n\n<p>Today\u2019s board meeting also formalised the exit of the board members representing private shareholders, such as Javier Garc\u00eda-Carranza Benjumea and Jaime Rodr\u00edguez Andrade in representation of Banco Santander and Jorge Mondejar L\u00f3pez who represented Caixabank. Enric Rovira, who was a board member in representation of Banco Sabadell, resigned several days ago owing to his current leave of absence in the bank.<\/p>\n\n\n\n<p>A further two non-executive directors \u2013 Francisco Javier Bartolom\u00e9 and I\u00f1aki Goikoetxeta \u2013 have also left the board having reached the end of their five-year mandate.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Today, the FROB has formalised its acquisition of 4.24% of Sareb\u2019s share capital increasing its shareholding to 50.14% and taking effective control of the company as per Royal Legislative Decree 1\/2022. As a result, Sareb has amended its articles of association to reflect the new shareholder structure and formalised the exit of the proprietary directors &hellip;<\/p>\n","protected":false},"author":192,"featured_media":16979,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[6],"tags":[1750],"class_list":["post-36480","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-corporate","tag-company"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.sareb.es\/en\/wp-json\/wp\/v2\/posts\/36480","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.sareb.es\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.sareb.es\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.sareb.es\/en\/wp-json\/wp\/v2\/users\/192"}],"replies":[{"embeddable":true,"href":"https:\/\/www.sareb.es\/en\/wp-json\/wp\/v2\/comments?post=36480"}],"version-history":[{"count":6,"href":"https:\/\/www.sareb.es\/en\/wp-json\/wp\/v2\/posts\/36480\/revisions"}],"predecessor-version":[{"id":36507,"href":"https:\/\/www.sareb.es\/en\/wp-json\/wp\/v2\/posts\/36480\/revisions\/36507"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.sareb.es\/en\/wp-json\/wp\/v2\/media\/16979"}],"wp:attachment":[{"href":"https:\/\/www.sareb.es\/en\/wp-json\/wp\/v2\/media?parent=36480"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.sareb.es\/en\/wp-json\/wp\/v2\/categories?post=36480"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.sareb.es\/en\/wp-json\/wp\/v2\/tags?post=36480"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}