Unicaja Banco announces new CEO as the bank recovers more of its Malaga roots

The board of directors of Malaga-based Unicaja Banco appointed a new chief executive at its meeting on Monday this week. Isidro Rubiales Gil will replace Manuel Menéndez, once approval is given by the banking regulators.

The move marks the latest stage by the Malaga side of the bank to reassert its authority. Following a merger with smaller Liberbank, which is mostly focused in northern and central Spain, Malaga politicians and civic leaders had complained that the new partner was preparing to water down Unicaja's historic presence in Malaga. Manuel Menéndez was once at Liberbank and Rubiales is seen as more loyal to the Malaga roots. No date has been announced for the handover.