Banks stand by new lobby chief despite ministry opposition

Economy Ministry says it is "unethical" for José María Roldán to work for the interests of lenders

Spain's commercial banks consider the Economy Ministry's objections to the appointment of a former Bank of Spain manager to head the Spanish Banking Association (AEB) as "unheard of," Europa Press quoted financial sources as saying Monday.

The ministry for its part believes it is not "ethical" for former central bank general manager for regulation, José María Roldán, to lobby for the interests of banks he had previously supervised. The AEB named Roldán as the replacement of Miguel Martín, whose mandate as chairman of the AEB ends in April of next year. The AEB argues that as a private organization that respects the rules it has the right to name its chief.

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