Bankia to restructure its business areas

• Bankia creates the Business Banking unit headed by Gonzalo Alcubilla.
• It combines business and corporate banking and the capital markets and corporate finance activities.
• The bank is also restructuring the retail banking unit and is unifying its private banking and asset management activities into a single department.

10-4-2013 — /europawire.eu/ — Bankia is reorganising its business units. The changes are designed to simplify and delayer the bank’s structures in order to streamline decision making processes for customers.

The bank has created the Business Banking unit that will bring together the business banking and corporate banking activities, as well as the capital markets and corporate finance businesses, which are merging in order to reinforce the bank’s ability to respond to customers in terms of products and markets.

The business unit will be headed up by Gonzalo Alcubilla, who was formerly and exclusively responsible for business and corporate banking. He will report directly to the chairman, José Ignacio Goirigolzarri.

The Business Banking unit will also include responsibility for Bankia Bolsa SVB and Madrid Leasing SA.

Business banking is one of Bankia’s strategic activities. The bank estimates that this unit will lend €43,500 million to the self-employed, small and medium enterprises (SMEs) and large companies over the next three years, accounting for 84% of its new lending.

Reorganisation of retail banking

The bank is also restructuring the Personal Banking unit led by Fernando Sobrini, who will report directly to the chairman. The process includes combining the private banking and asset management activities into a single department.

The new Private Banking and Asset Management Department led by Jaime González Lasso de la Vega will integrate private banking operations as well as the companies Bankia Fondos and Bankia Pensiones.

The department will manage more than €15,000 million in assets including investment funds, pension plans and private banking activities.

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Gonzalo Alcubilla, Business Banking Director

Fernando Sobrini, Retail Banking Director