The Government elects Carlos San Basilio, former ‘number two’ of Calviño, as the new president of the CNMV

The Government elects Carlos San Basilio as the new president of the National Securities Market Commission (CNMV) to replace Rodrigo Buenaventura, as confirmed to EL MUNDO by sources close to the Executive. The Ministry of Economy made it official hours later at the end of the Council of Ministers.

Saint Basil was general secretary of the Treasury and ‘number two’ of Nadia Calvino in the Ministry of Economy in the new stage and has a technical profile. He was currently a director at the European Bank for Reconstruction and Development (EBRD) and his appointment shows that Calviño maintains influence in Moncloa and the ability to propose names. The Minister of Economy, Calos Bodyassumes the appointment in the Council of Ministers this Tuesday.

For his part, the Minister of the Presidency, Felix Bolañosplaces vice president of the CNMV Paloma Marincurrent general director of the Bank of Spain at the proposal of the new governor, José Luis Escrivá.

Marín is a lawyer at the Bank of Spain from the same class as Bolaños and her legal training makes her complementary to the economic training of San Basilio, according to the composition chosen by the Government. Escrivá thus loses the general director that he had appointed, but with her promotion at the CNMV she will become a natural director of the Bank of Spain. Both San Basilio and Marín will have a six-year term. “The Minister of Economy has indicated that both candidates present suitable professional profiles to be at the head of the CNMV, taking into account their experience, career, independence and national and international prestige,” the Ministry states in a statement. dAt the moment, they are “nominated” for the position until their appointment by Royal Decree after a prior appearance at the Economic Commission of the Congress of Deputies.

San Basilio is a commercial technician and State economist and was general director of the Treasury during the PP Government. Born in Lugo in 1965 and worked with Calviño as ‘number two’ in the European meetings of Ecofin between 2018 and 2021. In that year he left the Ministry to be executive director of Corporate Strategy of the aforementioned. European Bank for Reconstruction and Development (EBRD). Calviño replaced him with Carlos Cuerpo. During his time as Secretary General of the Treasury, San Basilio was a director of the CNMV.

He thus remains outside the leadership of the CNMV, Montserrat Martínez who is currently vice president with the possibility of extension or even being named president of the CNMV, but she herself has withdrawn from the race for personal reasons, as she has communicated to the Government.