The Executive Commission of the Bank of Spain has approved an internal reorganisation that merges the areas of Transparency, Conduct, and Openness to society into a single general direction, led by Alberto Ríos. The change responds to the departure of Galo Nuño and the supervisor's 2030 strategy.
The Bank of Spain has initiated an internal reorganisation affecting its executive leadership. The Executive Commission approved on Tuesday the unification of the areas of Transparency, Conduct, and Openness to society into a single general direction, which will be led by Alberto Ríos, who was previously the general director of Financial Conduct and Banknotes.
The new general direction integrates three departments: the Conduct department, which supervises transparency in the relationships between financial entities and clients; a newly created department dedicated to Transparency and Branches, which will manage the supervisor's relationship with society and include financial education; and a Coordination department, responsible for relations with other national and international institutions.
The move is directly linked to the departure of Galo Nuño, who was the general director of Institutional, European, and Transparency Relations, and has decided to leave the institution to focus on university teaching and research. Inés Calderón, the current deputy general director of Institutional, European, and Transparency Relations, will assume the deputy general direction of the new area and will also lead the governor's office.
According to sources from the Bank of Spain, the unification aims to boost the institution's strategy until 2030, which focuses on the activities of branches and financial education. The institution believes that grouping these functions under one direction will allow for a more coordinated and efficient operation.
The other major organisational change affects the general direction of Operations, Markets, and Payment Systems, led by Juan Ayuso. From now on, this direction will incorporate activities related to payment methods, including responsibilities linked to cash, which were previously under the direction of Financial Conduct and Banknotes.
With this restructuring, the supervisor aims to harmonise its actions and consolidate activities that were previously “dispersed across various areas,” as stated in the official announcement. The structural modifications and new responsibilities have taken effect immediately, although changes are expected to start being noticeable from next September.
For citizens and financial entities, this reorganisation means that inquiries and complaints related to banking transparency and financial education will have a single point of contact. Additionally, the unification of payment methods under one direction could expedite the supervision of new payment systems and cash management.
The departure of Galo Nuño represents the loss of a profile closely linked to the international projection of the Bank of Spain. Nuño, who has been at the forefront of Institutional, European, and Transparency Relations, leaves the institution after several years of service. His departure has triggered a reorganisation that the supervisor has been considering for some time.
With these changes, the Bank of Spain strengthens its structure for the coming years, with a more integrated approach to transparency and financial conduct. The new general direction under Alberto Ríos will be key to implementing the 2030 strategy, which aims to bring the supervisor closer to society and improve citizens' financial education.
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