The decision was made since last Friday. The Board of Unicaja Banco has preferred the internal solution and has appointed Isidro Rubiales as the new CEO to replace Manuel Menéndez, who last June resigned to give the battle for control of the merged bank and sealed his departure from the entity in deferred.
The name of Isidro Rubiales has been weeks in the pools where his candidacy was taken for granted given the proximity of the director with the president of the combined entity, Manuel Azuaga. For his appointment there was only one obstacle, the preference of the European Central Bank (ECB) for the appointment of an external candidate, alien to the power struggle between the Malaga front (headed by the Unicaja Foundation, the bank's largest shareholder) and the Asturian (from the former Liberbank).
Finally, other considerations have weighed more heavily in the Board's decision and it will be Rubiales, until now deputy general director to the president with broad responsibilities in Risk Control and Strategy, who relieves Menéndez in the position.
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