Bloomberg News

Spanish Cabinet Names Luis Maria Linde to Central Bank Board

May 25, 2012

Spain named Luis Maria Linde, a former director general of the Bank of Spain, to the central bank’s board, as the government prepares for the end of Governor Miguel Angel Fernandez Ordonez’s term in July.

Deputy Prime Minister Soraya Saenz de Santamaria declined to comment when asked by reporters whether the appointment made the civil-service economist a candidate for governor, saying only that the Cabinet’s decision was to name him to the board.

The Bank of Spain’s governor oversees banking supervision and sits on the European Central Bank’s rate-setting council with the other 16 national central bank heads. Ordonez has faced criticism since the May 9 nationalization of Bankia, Spain’s third-largest lender, and Economy Minister Luis de Guindos has said his successor will have a technical profile and an international reputation.

Linde, 67, first joined the Bank of Spain in 1983. He was director general of international affairs and in 2001 led the country risk division. He was named executive director for Spain at the Interamerican Development Bank in 2005 and was an adviser to the Bank of Spain’s international affairs department from 2009 to 2011, the government said on its website.

To contact the reporter on this story: Angeline Benoit in Madrid at abenoit4@bloomberg.net

To contact the editor responsible for this story: Craig Stirling at cstirling1@bloomberg.net


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