Agustín Berasaluce and José Gefaell became independent directors of Morabanc, Andorra (Pyrenees).

These assignments are related to the bank’s policy of focusing on international corporate governance standards. In particular, the independent directors will oversee the remuneration of directors, audit and compliance procedures in accordance with the recommendations and best world practices.

The new directors replace Gilles Serra and José María Hoya.

The restructuring of the bank‘s directors’ structure and committees of the board is one of the strategies of general transformation of Morabanc, which began more than a year ago. This process is also followed by significant investments in digital technologies in the framework of international rules and requirements, reports Morabanc.

José Gefaell has 27 years of experience in corporate banking and investment. His professional activities are focused on customer service and the introduction of new technologies. He has a degree in biochemistry (University of Navarre, Spain) and MBA Business Institute (l’Institut d’Empresa). He worked in the securities market and the stock exchange for Chase Manhattan, then in BNP Paribas he was responsible for corporate and investment banking services. He is the founder and president of NexWm company, which is responsible for private debts of European corporations. Before Morabanc he also had a senior position in the company El Instituto de Crédito Oficial (ICO) of Spain.

Agustin Berasaluse has a degree in Business Sciences of the University of Deusto (Universitat Comercial de Deusto), holds an MBA from the business school INSEAD. During his career he focused on the finance, commerce and technology. In particular, he headed the department of financial services and strategic consulting in Accenture company in Spain, Portugal and Israel. He lalso worked in the company of BBVA in Spain and the United States. He is a member of the board of directors of such companies as Home Loan Corporation (the mortgage), TIAG, EUA and Norpensión.

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