By Jesús Aguado
MADRID (Reuters) – The deputy chairman of Caixabank, Tomas Muniesa, is set to succeed Jose Ignacio Goirigolzarri as chairman of Spain’s biggest lender by domestic assets, a source with knowledge of the matter said.
The reshuffle comes as Europe’s lenders are adapting to a changing market environment as falling interest rates put pressure on margins.
The changes will take place following a board meeting later on Wednesday, the source said, adding Muniesa was “likely” to become chairman after Goirigolzarri’s “voluntary” resignation.
Caixabank declined to comment.
The bank’s shares were up 0.9% at 0924 GMT, while Spain’s leading blue-chip index was down 0.5%.
Goirigolzarri’s resignation comes a day before the lender is scheduled to announce third-quarter earnings and ahead of the release of a strategic plan expected on Nov. 19.
Goirigolzarri, 70, became executive chairman of Caixabank after the lender’s acquisition of Bankia in 2020.
He formally took over as head of the lender in 2021 and his tenure would have to be renewed at the bank’s next shareholder meeting, usually in spring.
Muniesa’s promotion would need the approval of the board later on Wednesday, while Goirigolzarri’s resignation would not need to be signed off.
It was not clear when the changes would be effective.
Caixabank’s main shareholders are holding company Criteria, with a stake of over 30%, and the Spanish state, with 17.9%.
(Reporting by Jesús Aguado; Editing by Tommy Reggiori Wilkes and Mark Potter)
