Post by account_disabled on Jan 17, 2024 6:04:09 GMT 2
The merger with CaixaBank will put an end to the salary limitations of Bankia's leadership and executives, whose fixed salaries could not exceed half a million euros since the entity's rescue in 2012, or 800,000 euros including variable remuneration. The merger agreement states that the remuneration systems applicable in the resulting company to executive directors, senior managers and other categories of personnel whose professional activities significantly affect the risk profile will be subject to the general regime of credit institutions.
Therefore, the integration will end the salary cap imposed on all entities that received public aid from the Ministry of Economy in 2012, with Luis de Guindos at the head of the portfolio, and will allow salaries to be raised. This will foreseeably Whatsapp Number List mean an exponential jump in the emoluments of Bankia's executives, who will possibly receive higher salaries as well as other benefits that they could not currently access, such as contributions to pension plans. Until now, the president of Bankia, José Ignacio Goirigolzarri, has collected a maximum of 800,000 euros per year from the entity, below the 1.15 million that the president of CaixaBank, Jordi Gual, collected in cash in 2019.
Now it remains to be seen what will happen to Goirigolzarri as executive president of CaixaBank when the absorption of Bankia is completed and what happens to the current CEO of Bankia, José Sevilla, if he ends up occupying a relevant management position in the future organization chart of the new group. . In recent years, Sevilla has also received a maximum of 800,000 euros for his duties at Bankia, well below the remuneration of CaixaBank's CEO, Gonzalo Gortázar, who received 3.08 million euros last year. The disappearance of the salary cap for Bankia executives is reminiscent of what already happened after the absorption of CatalunyaCaixa by BBVA, which also led to the elimination of the salary limit that applied to the first entity.
Therefore, the integration will end the salary cap imposed on all entities that received public aid from the Ministry of Economy in 2012, with Luis de Guindos at the head of the portfolio, and will allow salaries to be raised. This will foreseeably Whatsapp Number List mean an exponential jump in the emoluments of Bankia's executives, who will possibly receive higher salaries as well as other benefits that they could not currently access, such as contributions to pension plans. Until now, the president of Bankia, José Ignacio Goirigolzarri, has collected a maximum of 800,000 euros per year from the entity, below the 1.15 million that the president of CaixaBank, Jordi Gual, collected in cash in 2019.
Now it remains to be seen what will happen to Goirigolzarri as executive president of CaixaBank when the absorption of Bankia is completed and what happens to the current CEO of Bankia, José Sevilla, if he ends up occupying a relevant management position in the future organization chart of the new group. . In recent years, Sevilla has also received a maximum of 800,000 euros for his duties at Bankia, well below the remuneration of CaixaBank's CEO, Gonzalo Gortázar, who received 3.08 million euros last year. The disappearance of the salary cap for Bankia executives is reminiscent of what already happened after the absorption of CatalunyaCaixa by BBVA, which also led to the elimination of the salary limit that applied to the first entity.