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Spain's bad bank Sareb names Echegoyen CEO
February 23, 2014 / 1:31 PM / 4 years ago

Spain's bad bank Sareb names Echegoyen CEO

MADRID, Feb 23 (Reuters) - Spain’s so-called “bad bank” Sareb will name Jaime Echegoyen, former CEO of Bankinter , as the as second-in-command to Chairwoman Belen Romana in a new CEO role, Sareb said on Sunday.

Sareb was set up to cleanse Spain’s rescued banks of their soured property loans and real estate.

The bank is taking advantage of interest from foreign investors for its holdings and late last year it sold two portfolios of loans worth a total of 323 million euros ($435 million) to Deutsche Bank.

Echegoyen was chief executive officer at retail bank Bankinter until October 2010 and left to run the Spanish arm of UK bank Barclays before stepping down at the end of January. (Reporting By Elisabeth O‘Leary; Editing by Louise Heavens)

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