Council of Ministers approves appointment of Álvaro López Barceló as Chairperson of FROB

Following the decision of the Council of Ministers on 30 January, Mr Álvaro López Barceló was proposed as the new Chairperson of FROB. This proposal was made after consultation with the supervisory authorities. Mr López Barceló also appeared before the Parliamentary Economic Affairs and Digital Transformation Committee on 6 February. In accordance with Article 55 of Law 11/2015, of 18 June, on the recovery and resolution of credit institutions and investment firms, the Council of Ministers has today approved the appointment of Mr Álvaro López Barceló as Chairperson of FROB by royal decree.

Mr Álvaro López Barceló holds a degree in Economics from the Universidad Autónoma de Madrid and is a member of the Senior Corps of State Trade Specialists and Economists. He has developed his professional career within the Spanish economic administration, where he has held various senior positions, including that of Director General of the Treasury and Financial Policy. His key responsibilities have included, among others, the regulation of the banking sector, securities markets, and payment systems; the development of sustainable and digital finance; the financing of the Public Treasury; the prevention of money laundering and the financing of terrorism; the management of the State Treasury; and negotiations on the reform of the European resolution framework during the Spanish Presidency of the Council of the European Union in 2023.

The Chairperson of FROB will serve a single, non-renewable five-year term and shall be responsible for performing, among other duties, the following functions:

• Chair the Governing Committee and lead and supervise all operations that must be carried out in accordance with Law 11/2015, of 18 June, on the recovery and resolution of credit institutions and investment firms, by FROB.
• Run the day-to-day, economic and administrative operations of FROB, including the administration of the National Resolution Fund, and hold its legal representation.
• Represent FROB before international institutions and organisations where its participation is required, particularly in the Single Resolution Board of the Single Resolution Mechanism.