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There will be a Portuguese in the board of the future largest Spanish bank nationwide. Fernando Ulrich, Chairman of the Board of Directors of BPI, is proposed to join the future Board of Directors of CaixaBank, after the approval of the merger project between CaixaBank and Bankia.
The historic CEO of BPI is considered the the terrible child of bankers, due to his irreverence in public interventions, is president of BPI, held by Caixabank.
BPI is part of the CaixaBank Group, which, at the end of 2018, held the entire capital of Banco Portugués.
The Board of Directors of the new bank that arises from the merger will be made up of 15 members, of which 60% will be independent.
Spanish newspapers assure that Gonzalo Gortázar will become general director of the new bank and José Ignacio Goirigolzarri will be president.
The CaixaBank and Bankia Boards of Directors yesterday approved the merger project to create the leading bank in Spain. The operation will be carried out through the merger by absorption of Bankia by CaixaBank, and must be approved by the general meetings of the two entities. The new entity, which will maintain the CaixaBank brand, will be the benchmark bank in Spain with more than 20 million clients, a market share in loans and deposits of 25% and 24%, respectively, and a diversified and balanced geographic presence.
In a statement, CaixaBank details that Fernando Ulrich, 67, had his first job in economic journalism, at Expresso, when it was founded and for two years. After serving in the Portuguese Delegation of the OECD in Paris (1975-1979), in the Ministry of Foreign Affairs (1979-1980) and as Chief of Staff to the Minister of Finance (1981-1983). In 1983 he joined the Portuguese Investment Company, predecessor of BPI, at the invitation of Artur Santos Silva, current honorary president of BPI. In April 2004, and already as vice president of Banco BPI, Fernando Ulrich assumed the executive presidency of the entity, a position he held until April 2017, when he assumed the presidency of the Board of Directors, at the invitation of the CaixaBank shareholder. . Between 2009 and 2013 he was also president of the General Council of the University of Algarve.
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