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Corporate Governance and remuneration policy

Puede comprobar los Estatutos sociales vigentes here.
Cecabank's General Shareholders Committee will be made up of shareholders who have the right to attend and others acting as representatives for the same. The General Committee is responsible for, among other duties set out in the Statutes, appointing and dismissing advisers, approving the Annual Accounts, and appropriation of earnings. Regulations regarding responsibilities and duties can be found in articles 17 to 27 of Cecabank's Statutes.

General Shareholders Committee Notice:

Shareholders' General Assembly documentation:

Ordinary General Assembly 20 of March 2018 Ordinary General Assembly 17 of March 2015 Access Cecabank's General Shareholders Committee Meeting Regulations in full here.

The Board of Directors is entrusted with Cecabank's administration, management and representation. As such, this body is responsible for the company's governance and administration, as well as its representation in all matters relating to routine business operations or disputes, through the mechanisms set out in the company statutes.

The Board will have at least six meetings a year, called by the chairman.

Cecabank's Board of Directors is made up of a minimum of five and maximum of fifteen members, who may or may not be shareholders. The General Committee will determine the number of members to make up the Board. Regulations regarding responsibilities and duties can be found in Articles 28 to 36 of the Cecabank Articles of Association, governed by its own Internal Regulations approved by the Board of Directors on 26 May 2015.

The General Assembly of 20 March 2018 established the number of members of the Board of Directors at 13. The suitability of the Board Members has been approved by the Appointments Committee.

(The above photo reflects the composition of the Cecabank Board of Directors as of 21 December 2017).

Details including duties and types of adviser of the Board of Directors are shown below. Click on a name to see a Board member's CV.

ADVISERS/MEMBERS OF THE BOARD OF DIRECTORS

Name of adviser Post Status
CV Mr. Manuel Azuaga Moreno Chairperson External Proprietary
CV Mr Antonio Ortega Parra Member External Proprietary
CV Mr Francisco Javier Garcia Lurueña Member External Proprietary
CV Mr Jesús Ruano Mochales Member External Proprietary
CV Mr. Francisco Botas Ratera Member External Proprietary
CV Mr. Victor Manuel Iglesias Ruiz Member External Proprietary
CV Mr. Javier Pano Riera Member External Proprietary
CV Mr José Manuel Gómez de Miguel Member External Independent
CV Dª María del Mar Sarro Álvarez Member External Independent
CV Mr Santiago Carbó Valverde Member External Independent
CV Ms Julia Salaverría Monfort Member External Independent
CV Ms. Carmen Motellón García Member External Independent
CV Mr José María Méndez Álvarez-Cedrón Board member - CEO Executive
CV Mr Fernando Conlledo Lantero Non-member Secretary -

Access Cecabank's Board of Directors Regulations in full here.

De acuerdo a los Estatutos de Cecabank, a continuación se detallan las comisiones delegadas del Consejo de Administración:

Auditing Committee

A la Comisión de Auditoría le corresponden, entre otras funciones, informar a la Junta General de Accionistas sobre las cuestiones que en ella planteen los accionistas en materias de su competencia, supervisar la eficacia del control interno de la Entidad, la auditoría interna, en su caso, y los sistemas de gestión de riesgos; and overseeing the process of drawing up and presenting regulatory financial information. La Comisión de Auditoría está regulado en el artículo 38 de los Estatutos de Cecabank, y en su propio Reglamento Interno, aprobado en el Consejo de Administración de 21 de noviembre de 2017. La Comisión de Auditoría tiene la siguiente composición: - D. Santiago Carbó Valverde (Presidente) - Dª. Mª. del Mar Sarro Álvarez (Vocal) - D. Jesús Ruano Mochales (Vocal) - D. Francisco Botas Ratera (Vocal) - Dª. Carmen Motellón García (Vocal). El Secretario del Consejo de Administración es el Secretario, no miembro, de la Comisión de Auditoría. Puede acceder al texto completo del Reglamento de la Comisión de Auditoría de Cecabank desde esta here.

Appointments committee

This Committee is responsible for, among other duties, selecting and recommending candidates for positions on the Board; regularly assessing the Board's structure, composition, size, and activities; regularly assessing the suitability of the Board and its members as a whole; and for regularly assessing the Board's policies with regard to selection criteria and the appointment of senior management. El Comité de Nombramientos está regulado en el artículo 39 de los Estatutos de Cecabank, y en su propio Reglamento Interno, aprobado en el Consejo de Administración de 26 de mayo de 2015. Cecabank's Appointments Committee is made up of the following members: - Dª. Julia Salaverría Monfort (Presidenta) - D. Antonio Ortega Parra (Vocal) - D. Javier Pano Riera (Vocal) - D. José Manuel Gómez de Miguel (Vocal). El Secretario del Consejo de Administración es el Secretario, no miembro, del Comité de Nombramientos. Access Cecabank's Appointments Committee Regulations in full here.

Remunerations Committee

This Committee is responsible for, among other duties, overseeing and reporting on remunerations and incentives policies for Advisers and staff across the Company, and making decisions relating to remunerations. El Comité de Remuneraciones está regulado en el artículo 40 de los Estatutos de Cecabank, y en su propio Reglamento Interno, aprobado en el Consejo de Administración de 26 de mayo de 2015. Cecabank's Remunerations Committee is made up of the following members: - Ms. Mª del Mar Sarro Álvarez (Chairwoman) - Mr. Jesús Ruano Mochales (Member) - Mr. Santiago Carbó Valverde (Member). El Secretario del Consejo de Administración es el Secretario, no miembro, del Comité de Remuneraciones. Access Cecabank's Remunerations Committee Regulations in full here.

Risk Committee

This committee pays close attention to issues relating to capital, liquidity, and risk management: all of which are vital to the development of the Company as a whole. The Committee has the following principal functions, as outlined in its operational Regulations: To advise the Board on the Company's overall risk trends and report on its strategies relating to the same; have an awareness of and regularly analyse the Company's status with regard to solvency, liquidity, and general risks (in particular to analyse capital self-assessment reports and Pillar 3 Disclosures prior to taking them to the Board); and to inform the Board of Directors of any regulatory changes relating to solvency, liquidity, and risk management which could have an impact on the Company. El Comité de Riesgos está regulado en el artículo 41 de los Estatutos de Cecabank, y en su propio Reglamento Interno, aprobado en el Consejo de Administración de 26 de mayo de 2015. Cecabank's Risk Committee is made up of the following members: -Mr. José Manuel Gómez de Miguel (Presidente) - Dª. Julia Salaverría Monfort (Vocal) - Dª. Carmen Motellón García (Vocal) - D. Víctor Manuel Iglesias Ruiz (Vocal) - D. Francisco Javier García Lurueña (Vocal). El Secretario del Consejo de Administración es el Secretario, no miembro, del Comité de Riesgos. Access Cecabank's Risk Committee Regulations in full here.
With regard to reporting remunerations to the market, and in line with the Bank of Spain Circular 2/2016 of 2 February, which clarifies the Spanish legal ruling to EU Directive 2013/36 and EU Regulation no. 575/2013, Cecabank outlines here its remunerations policies and practices, relating to managers, senior management, employees engaging in risk, employees carrying out duties relating to control systems, and any other worker whose overall remuneration may be similar to that already mentioned.
1. Directors' Remunerations Policy 2. Cecabank staff remuneration
Relevant staff should be aware of, comply with, and assist with compliance to current legislation affecting the specific scope of their activities, the different documentation required, and any internal regulations governing the same.