Fernando de Soto, who served as General Manager of Institutional Relations at Banco Popular from 1980 to 2005, shares his reflections on Luis Valls, a leader both at the bank,and in the country’s media and business environment as well.

De Soto recalls how, in 1977, when the press began to openly criticize banks, Luis Valls created the Department of Communication and Institutional Relations. According to de Soto, he understood the importance of engaging with the media and ensuring they understood what the bank was really like. He always placed great importance on communication.

In addition to his strategic vision, Luis Valls was passionate about the journalistic world. Fernando highlights how Valls was involved in founding Diario Madrid, which allowed him to meet and befriend prominent journalists of the time, such as Miguel Ángel Aguilar and Pepe Oneto.

Valls was a staunch defender of the bank’s independence. De Soto remembers how, in the late 1980s, when a banking group attempted to take over the bank, Valls fought with great determination to maintain the institution’s autonomy. This defense of the bank’s independence also extended to his desire to dissociate the bank’s image from any organization, including the perception of being linked to Opus Dei, despite his being a member himself.

Furthermore, Valls was able to adapt to the political changes of the time. De Soto emphasizes that, when new political parties emerged, Valls was the first to grant a loan to the Communist Party, demonstrating an openness and forward-thinking approach unusual at the time. He even established a specialized office for loans to political parties, reaffirming his commitment to neutrality and independence.

Finally, Fernando de Soto expresses deep gratitude towards Luis Valls, highlighting how much he learned from him and how he was always accessible and approachable.