José Ignacio Goirigolzarri

José Ignacio Goirigolzarri
Born José Ignacio Goirigolzarri Tellaeche
(1954-02-04) February 4, 1954
Bilbao, Spain
Nationality Spanish
Alma mater University of Deusto
University of Leeds
Occupation Executive Chairman of Bankia
Salary € 500,000 (2015)[1]

José Ignacio Goirigolzarri Tellaeche (born February 4, 1954) is a Spanish economist and executive. He is the current President of Bankia, a position he has held since 2012. He served as President and COO of BBVA from 2001 to 2009.

Career

Goirigolzarri earned a bachelor’s degree in Economics and Business Studies from the University of Deusto (Bilbao), and a degree in Strategic Finance and Planning from the University of Leeds. He began his professional career at Banco de Bilbao in 1977.[2] In 1992, he was appointed as General Director at BBV. In 1999, BBV and Argentaria merged and Goirigolzarri was appointed as member of the Management Committee and head of the Latin-American businesses.[3] He served as Vice Chairman of Telefonica and Repsol in 2002-2003.[4] Goirigolzarri was President and COO of BBVA from 2001 to 2009, when he early-retired after working at the bank for 30 years.[5]

On May 9, 2012, he became the president of Bankia, the fourth largest bank of Spain.[6] On May 25, 2012, Bankia asked for 19 billion euros from the FROB, the Spanish bailout fund for banks.[7] Bankia also revised its earnings statement for 2011, stating that instead of a profit of 309 million euros, it had in fact lost 4.3 billion euros before taxes.[8] A number of limitations were imposed as a result of having received state aid. Shareholders had to share part of the burden of the capital injection, the balance sheet had to be reduced, dividends were restricted until 2014 and the branch network (-39%) and workforce (-28%) had to be reduced.[9] At the end of 2015, Bankia had fulfilled two years ahead of schedule all the targets set by the European Commission in the BFA-Bankia Group Restructuring Plan. The bank also reported the best efficiency, solvency and return on equity among the large Spanish banks.[10]

In 2016, Goirigolzarri was listed among the top 10 chairmen of Spanish companies in the MERCO ranking.[11]

References

  1. ↑ "Bankia Annual Report 2015" (PDF). Bankia. Retrieved 2016-06-14.
  2. ↑ S.A., Bankia. "Board of Directors - Organisation - Who we are - Bankia". Bankia. Retrieved 2016-02-13.
  3. ↑ "BBVA Annual Report 2004" (PDF). BBVA. Retrieved 2016-01-15.
  4. ↑ "Jose Ignacio Tellaeche, Bankia SA: Profile & Biography". Bloomberg. Retrieved 2016-01-15.
  5. ↑ País, Ediciones El (2012-05-08). "Un hombre tranquilo". EL PAÍS (in Spanish). Retrieved 2016-01-15.
  6. ↑ http://www.bankia.com/page/id-2-1304-0-99634-427526-99633-0%24P2%3D*__rp1304-99633-99253_p*2*__rp1304-99633-99253_form-submit*true.go
  7. ↑ http://www.bankia.com/page/id-2-1304-0-99634-428557-99633-0.go
  8. ↑ Johnson, Miles (2012-05-25). "Spain to inject €19bn into Bankia". Financial Times. ISSN 0307-1766. Retrieved 2016-01-15.
  9. ↑ S.A., Bankia. "Strategic Plan 2012-2015 - Strategic plan - Who we are - Bankia". Bankia. Retrieved 2016-04-11.
  10. ↑ S.A., Bankia. "BFA-Bankia Year 3 Report" (PDF). Bankia. Retrieved 2016-04-11.
  11. ↑ S.A., Bankia. "Bankia recognised as one of the most sustainable companies in the world following its inclusion in the Dow Jones Sustainability Index (DJSI) - Press releases - In the news - Communication - Bankia". Retrieved 2016-09-13.
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