Linde and Rastoy take the lead at Bank of Spain

Luis Maria Linde succeds today Miguel Ángel Fernández Ordóñez as governor at the Bank of Spain, following Ordoñez’ decision to leave his post a month before the end of his mandate.

The decision to leave the post early is seen as an attempt to ease the succession process at a critical time for the banking system of the country.

Linde has a number of years of experience at the Bank of Spain, which he first joined in 1983 as head of the office of exterior operations in the bank’s foreign department.

Last month, Linde was also appointed to the Bank of Spain’s governing council, the body that approves the central bank’s general guidelines, including those related to monetary policy and other functions of the bank.

Meanwhile, Fernando Rastoy has been appointed as deputy governor at the institution. Rastoy is currently deputy head at Spain’s Comisión Nacional del Mercado de Valores(CNMV).

He will be responsible for the restructuring of the troubled banking sector of the country, which is seeking up to €100bn of financial support from the European Union.

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