Popular’s share price is very volatile and is up around 8% from its year lows, amid rumours that the only option for the troubled bank is to merge with another bigger lender.
Banco Popular new chairman
Emilio Saracho will be appointed as Banco Popular Chairman at today’s Extraordinary Shareholders’ Meeting. The new chairman (ex-deputy chairman at JP Morgan) will very likely revise the bank’s strategic plan, avoiding a new capital hike at least in the short-term.
Fernando Rodríguez | Next Banco Popular’s chairman Emilio Saracho is scheduled by end-February. People are waiting to see what his initiatives will be. Saracho is a deacon of coporate banking in Spain. Much is expected from him.