{"id":11255,"date":"2024-07-19T08:11:26","date_gmt":"2024-07-19T08:11:26","guid":{"rendered":"https:\/\/www.luisvallstaberner.com\/?p=11255"},"modified":"2024-10-18T12:53:48","modified_gmt":"2024-10-18T12:53:48","slug":"alberto-muniz-sanchez-uncle-alberto-3","status":"publish","type":"post","link":"https:\/\/www.luisvallstaberner.com\/en\/alberto-muniz-sanchez-uncle-alberto-3\/","title":{"rendered":"\u00c1ngel Rivera"},"content":{"rendered":"[vc_row type=&#8221;full_width_background&#8221; full_screen_row_position=&#8221;middle&#8221; column_margin=&#8221;default&#8221; column_direction=&#8221;default&#8221; column_direction_tablet=&#8221;default&#8221; column_direction_phone=&#8221;default&#8221; bg_color=&#8221;#ffffff&#8221; bg_image=&#8221;13588&#8243; bg_position=&#8221;left top&#8221; background_image_loading=&#8221;default&#8221; bg_repeat=&#8221;no-repeat&#8221; scene_position=&#8221;center&#8221; top_padding=&#8221;4%&#8221; bottom_padding=&#8221;4%&#8221; text_color=&#8221;light&#8221; text_align=&#8221;left&#8221; row_border_radius=&#8221;none&#8221; row_border_radius_applies=&#8221;bg&#8221; overflow=&#8221;visible&#8221; enable_gradient=&#8221;true&#8221; color_overlay=&#8221;#0a0a0a&#8221; overlay_strength=&#8221;0.5&#8243; gradient_direction=&#8221;left_to_right&#8221; shape_divider_position=&#8221;bottom&#8221; bg_image_animation=&#8221;none&#8221; parallax_bg=&#8221;true&#8221; parallax_bg_speed=&#8221;fast&#8221; gradient_type=&#8221;default&#8221; shape_type=&#8221;&#8221;][vc_column column_padding=&#8221;no-extra-padding&#8221; column_padding_tablet=&#8221;inherit&#8221; column_padding_phone=&#8221;inherit&#8221; column_padding_position=&#8221;all&#8221; column_element_direction_desktop=&#8221;default&#8221; column_element_spacing=&#8221;default&#8221; desktop_text_alignment=&#8221;default&#8221; tablet_text_alignment=&#8221;default&#8221; phone_text_alignment=&#8221;default&#8221; background_color_opacity=&#8221;1&#8243; background_hover_color_opacity=&#8221;1&#8243; column_backdrop_filter=&#8221;none&#8221; column_shadow=&#8221;none&#8221; column_border_radius=&#8221;none&#8221; column_link_target=&#8221;_self&#8221; column_position=&#8221;default&#8221; gradient_direction=&#8221;left_to_right&#8221; overlay_strength=&#8221;0.3&#8243; width=&#8221;1\/1&#8243; tablet_width_inherit=&#8221;default&#8221; animation_type=&#8221;default&#8221; bg_image_animation=&#8221;none&#8221; border_type=&#8221;simple&#8221; column_border_width=&#8221;none&#8221; column_border_style=&#8221;solid&#8221;][vc_row_inner equal_height=&#8221;yes&#8221; content_placement=&#8221;middle&#8221; column_margin=&#8221;default&#8221; column_direction=&#8221;default&#8221; column_direction_tablet=&#8221;default&#8221; column_direction_phone=&#8221;default&#8221; top_padding=&#8221;15%&#8221; bottom_padding=&#8221;14%&#8221; text_align=&#8221;left&#8221; row_position=&#8221;default&#8221; row_position_tablet=&#8221;inherit&#8221; row_position_phone=&#8221;inherit&#8221; overflow=&#8221;visible&#8221; pointer_events=&#8221;all&#8221;][vc_column_inner column_padding=&#8221;no-extra-padding&#8221; column_padding_tablet=&#8221;inherit&#8221; column_padding_phone=&#8221;inherit&#8221; column_padding_position=&#8221;all&#8221; column_element_direction_desktop=&#8221;default&#8221; column_element_spacing=&#8221;default&#8221; desktop_text_alignment=&#8221;default&#8221; tablet_text_alignment=&#8221;default&#8221; phone_text_alignment=&#8221;default&#8221; background_color_opacity=&#8221;1&#8243; background_hover_color_opacity=&#8221;1&#8243; column_backdrop_filter=&#8221;none&#8221; column_shadow=&#8221;none&#8221; column_border_radius=&#8221;none&#8221; column_link_target=&#8221;_self&#8221; overflow=&#8221;visible&#8221; gradient_direction=&#8221;left_to_right&#8221; overlay_strength=&#8221;0.3&#8243; width=&#8221;1\/2&#8243; tablet_width_inherit=&#8221;default&#8221; animation_type=&#8221;default&#8221; enable_animation=&#8221;true&#8221; animation=&#8221;fade-in&#8221; animation_easing=&#8221;default&#8221; bg_image_animation=&#8221;none&#8221; border_type=&#8221;simple&#8221; column_border_width=&#8221;none&#8221; column_border_style=&#8221;solid&#8221; offset=&#8221;vc_col-lg-6 vc_col-md-6 vc_col-xs-12&#8243;][vc_column_text css=&#8221;.vc_custom_1720395707067{padding-bottom: 20px !important;}&#8221; text_direction=&#8221;default&#8221;]<span style=\"color: #968523;\">IN-DEPTH<\/span>[\/vc_column_text][split_line_heading animation_type=&#8221;default&#8221; text_direction=&#8221;default&#8221;]\n<h1>\u00c1ngel Rivera<\/h1>\n[\/split_line_heading][vc_column_text css=&#8221;.vc_custom_1720687906559{padding-bottom: 20px !important;}&#8221; text_direction=&#8221;default&#8221;]Former CEO of Banco Santander Espa\u00f1a[\/vc_column_text][\/vc_column_inner][vc_column_inner column_padding=&#8221;no-extra-padding&#8221; column_padding_tablet=&#8221;inherit&#8221; column_padding_phone=&#8221;inherit&#8221; column_padding_position=&#8221;all&#8221; column_element_direction_desktop=&#8221;default&#8221; column_element_spacing=&#8221;default&#8221; desktop_text_alignment=&#8221;default&#8221; tablet_text_alignment=&#8221;default&#8221; phone_text_alignment=&#8221;default&#8221; background_color_opacity=&#8221;1&#8243; background_hover_color_opacity=&#8221;1&#8243; column_backdrop_filter=&#8221;none&#8221; column_shadow=&#8221;none&#8221; column_border_radius=&#8221;none&#8221; column_link_target=&#8221;_self&#8221; overflow=&#8221;visible&#8221; gradient_direction=&#8221;left_to_right&#8221; overlay_strength=&#8221;0.3&#8243; width=&#8221;1\/2&#8243; tablet_width_inherit=&#8221;default&#8221; animation_type=&#8221;default&#8221; bg_image_animation=&#8221;none&#8221; border_type=&#8221;simple&#8221; column_border_width=&#8221;none&#8221; column_border_style=&#8221;solid&#8221; offset=&#8221;vc_hidden-sm vc_hidden-xs&#8221;][vc_custom_heading text=&#8221;&#8221; google_fonts=&#8221;font_family:Roboto%3A100%2C100italic%2C300%2C300italic%2Cregular%2Citalic%2C500%2C500italic%2C700%2C700italic%2C900%2C900italic|font_style:100%20light%20regular%3A100%3Anormal&#8221;][\/vc_column_inner][\/vc_row_inner][\/vc_column][\/vc_row][vc_row type=&#8221;in_container&#8221; full_screen_row_position=&#8221;middle&#8221; column_margin=&#8221;default&#8221; column_direction=&#8221;default&#8221; column_direction_tablet=&#8221;default&#8221; column_direction_phone=&#8221;default&#8221; scene_position=&#8221;center&#8221; text_color=&#8221;dark&#8221; text_align=&#8221;left&#8221; row_border_radius=&#8221;none&#8221; row_border_radius_applies=&#8221;bg&#8221; overflow=&#8221;visible&#8221; overlay_strength=&#8221;0.3&#8243; gradient_direction=&#8221;left_to_right&#8221; shape_divider_position=&#8221;bottom&#8221; bg_image_animation=&#8221;none&#8221;][vc_column column_padding=&#8221;no-extra-padding&#8221; column_padding_tablet=&#8221;inherit&#8221; column_padding_phone=&#8221;inherit&#8221; column_padding_position=&#8221;all&#8221; column_element_direction_desktop=&#8221;default&#8221; column_element_spacing=&#8221;default&#8221; desktop_text_alignment=&#8221;default&#8221; tablet_text_alignment=&#8221;default&#8221; phone_text_alignment=&#8221;default&#8221; background_color_opacity=&#8221;1&#8243; background_hover_color_opacity=&#8221;1&#8243; column_backdrop_filter=&#8221;none&#8221; column_shadow=&#8221;none&#8221; column_border_radius=&#8221;none&#8221; column_link_target=&#8221;_self&#8221; column_position=&#8221;default&#8221; gradient_direction=&#8221;left_to_right&#8221; overlay_strength=&#8221;0.3&#8243; width=&#8221;1\/1&#8243; tablet_width_inherit=&#8221;default&#8221; animation_type=&#8221;default&#8221; bg_image_animation=&#8221;none&#8221; border_type=&#8221;simple&#8221; column_border_width=&#8221;none&#8221; column_border_style=&#8221;solid&#8221;][vc_column_text css=&#8221;.vc_custom_1729253274646{padding-top: 20px !important;}&#8221; text_direction=&#8221;default&#8221;]<em><strong>Written by \u00cd\u00f1igo de Barr\u00f3n Arniches,<\/strong> a journalist who has worked for media outlets such as El Pa\u00eds, where he was the Financial Correspondent between 2000 and 2022, Europa Press, and Expansi\u00f3n. He has also collaborated with various television and radio channels, including RTVE, La Sexta, Cuatro, COPE, Cadena SER, and Onda Madrid. Author of the book \u201cEl hundimiento de la banca\u201d (The Collapse of Banking), among others, he has received several awards throughout his career, including the Schroders Award for Best Article of the Year and the ING Journalism Award.<\/em>[\/vc_column_text][\/vc_column][\/vc_row][vc_row type=&#8221;in_container&#8221; full_screen_row_position=&#8221;middle&#8221; column_margin=&#8221;default&#8221; column_direction=&#8221;default&#8221; column_direction_tablet=&#8221;default&#8221; column_direction_phone=&#8221;default&#8221; scene_position=&#8221;center&#8221; top_padding=&#8221;50&#8243; left_padding_desktop=&#8221;0&#8243; right_padding_desktop=&#8221;50&#8243; left_padding_tablet=&#8221;30&#8243; right_padding_tablet=&#8221;30&#8243; left_padding_phone=&#8221;10&#8243; right_padding_phone=&#8221;10&#8243; text_color=&#8221;dark&#8221; text_align=&#8221;left&#8221; row_border_radius=&#8221;none&#8221; row_border_radius_applies=&#8221;bg&#8221; overflow=&#8221;visible&#8221; overlay_strength=&#8221;0.3&#8243; gradient_direction=&#8221;left_to_right&#8221; shape_divider_position=&#8221;bottom&#8221; bg_image_animation=&#8221;none&#8221; gradient_type=&#8221;default&#8221; shape_type=&#8221;&#8221;][vc_column column_padding=&#8221;no-extra-padding&#8221; column_padding_tablet=&#8221;inherit&#8221; column_padding_phone=&#8221;inherit&#8221; column_padding_position=&#8221;all&#8221; column_element_direction_desktop=&#8221;default&#8221; column_element_spacing=&#8221;default&#8221; desktop_text_alignment=&#8221;default&#8221; tablet_text_alignment=&#8221;default&#8221; phone_text_alignment=&#8221;default&#8221; background_color_opacity=&#8221;1&#8243; background_hover_color_opacity=&#8221;1&#8243; column_backdrop_filter=&#8221;none&#8221; column_shadow=&#8221;none&#8221; column_border_radius=&#8221;none&#8221; column_link_target=&#8221;_self&#8221; column_position=&#8221;default&#8221; gradient_direction=&#8221;left_to_right&#8221; overlay_strength=&#8221;0.3&#8243; width=&#8221;1\/1&#8243; tablet_width_inherit=&#8221;default&#8221; animation_type=&#8221;default&#8221; bg_image_animation=&#8221;none&#8221; border_type=&#8221;simple&#8221; column_border_width=&#8221;none&#8221; column_border_style=&#8221;solid&#8221;][split_line_heading animation_type=&#8221;default&#8221; text_direction=&#8221;default&#8221; el_class=&#8221;entradilla-testimonio&#8221;]\n<h2 style=\"text-align: left;\"><span style=\"color: #57502a;\">&#8220;Luis Valls was a pioneer in social responsibility and cost control in banking, which made Popular so profitable&#8221;<\/span><\/h2>\n[\/split_line_heading][\/vc_column][\/vc_row][vc_row type=&#8221;in_container&#8221; full_screen_row_position=&#8221;middle&#8221; column_margin=&#8221;default&#8221; column_direction=&#8221;default&#8221; column_direction_tablet=&#8221;default&#8221; column_direction_phone=&#8221;default&#8221; scene_position=&#8221;center&#8221; text_color=&#8221;dark&#8221; text_align=&#8221;left&#8221; row_border_radius=&#8221;none&#8221; row_border_radius_applies=&#8221;bg&#8221; overflow=&#8221;visible&#8221; overlay_strength=&#8221;0.3&#8243; gradient_direction=&#8221;left_to_right&#8221; shape_divider_position=&#8221;bottom&#8221; bg_image_animation=&#8221;none&#8221;][vc_column column_padding=&#8221;no-extra-padding&#8221; column_padding_tablet=&#8221;inherit&#8221; column_padding_phone=&#8221;inherit&#8221; column_padding_position=&#8221;all&#8221; column_element_direction_desktop=&#8221;default&#8221; column_element_spacing=&#8221;default&#8221; desktop_text_alignment=&#8221;default&#8221; tablet_text_alignment=&#8221;default&#8221; phone_text_alignment=&#8221;default&#8221; background_color_opacity=&#8221;1&#8243; background_hover_color_opacity=&#8221;1&#8243; column_backdrop_filter=&#8221;none&#8221; column_shadow=&#8221;none&#8221; column_border_radius=&#8221;none&#8221; column_link_target=&#8221;_self&#8221; column_position=&#8221;default&#8221; gradient_direction=&#8221;left_to_right&#8221; overlay_strength=&#8221;0.3&#8243; width=&#8221;1\/1&#8243; tablet_width_inherit=&#8221;default&#8221; animation_type=&#8221;default&#8221; bg_image_animation=&#8221;none&#8221; border_type=&#8221;simple&#8221; column_border_width=&#8221;none&#8221; column_border_style=&#8221;solid&#8221;][vc_column_text css=&#8221;&#8221; text_direction=&#8221;default&#8221;]\n<p class=\"p1\">\u00c1ngel Rivera had a mentor who set the standard: Luis Valls, who taught him the banking business and provided standards that he still uses today, decades later, to lead Santander\u2019s subsidiary in Spain. Rivera is convinced that Valls was ahead of his time, understanding how to manage a bank, making Popular one of the most profitable in the world. Simultaneously, Valls developed a system of foundations for social action as a responsibility to society without publicizing it. Rivera highlights that he was a president who oversaw everything at Popular and gained moral authority over his executives. \u201cHe wasn\u2019t easy to deal with and didn\u2019t like discussing personal matters; he handled silences well, cared about those around him, and knew many employees by their first names. He was an admired, respected, and beloved leader by the Bank\u2019s employees,\u201d Rivera recalls.<\/p>\n<p class=\"p1\"><b>Question.<\/b>\u00a0How did you come to Banco Popular?<\/p>\n<p class=\"p1\"><b>Answer.<\/b>\u00a0It was somewhat accidental. I think I saw an ad in El Pa\u00eds. I wanted to buy a house and thought about having a secure job, like a ministry job with a fixed salary and hours. I thought banks fitted that description because they worked from 8 to 3. In theory, that is! I had never had any relationship with banking or a bank before.<\/p>\n<p class=\"p1\"><b>Q.<\/b> When did you join?<\/p>\n<p class=\"p1\"><b>A.<\/b> I joined Popular in 1989 and started working at a branch in La Guindalera market in Madrid. I wouldn\u2019t say I liked it at first because banking accounting is the opposite of what you study in college. I was lucky to work with a good team of people from whom I learned a lot about the profession. I still see some of them, although less than I\u2019d like to. Later, I moved to another branch until Ascensi\u00f3n retired; he was the only person who spoke English in Luis Valls\u2019s office (LV), and they started looking for young people who spoke languages. After several interviews with the CFO and HR director, I continued the process.<\/p>\n<p class=\"p1\"><b>Q.<\/b>\u00a0What was the next step?<\/p>\n<p class=\"p1\"><b>A.<\/b>\u00a0An interview with Ricardo Lacasa, who wasn\u2019t yet the CEO, as Alfonso Ayala held that position. Lacasa said they were looking for candidates for the President\u2019s office, which I thought was excellent That\u2019s how I started working alongside LV. I like to get up early, so we both coincided early in the office to start working; he liked that.<\/p>\n<p class=\"p1\"><b>Q.<\/b>\u00a0When did you start leading the office?<\/p>\n<p class=\"p1\"><b>A.<\/b>\u00a0I joined in May 1992, so we interacted more frequently. LV was a very peculiar man. My job in the office was to read newspapers. He followed specific topics, both economic and current political issues, such as the rise and fall of prominent figures, politicians, entrepreneurs, players\u2026 We made dossiers in folders; everything was very manual. There was nothing like the internet back then.<\/p>\n<p class=\"p1\"><b>Q<\/b>. What was the purpose of following those stories?<\/p>\n<p class=\"p1\"><b>A. <\/b>He liked to analyse why successful people eventually ended up failing. He questioned the mistakes made. He wanted to learn from those stories; deep down, he was looking forknowledge. We always had about 15 dossiers open. He was fascinated by information in every sense. He would analyze it, and that allowed him to stay one step ahead of what anyone else might have thought; I was very impressed, though I was just a youngster back then. I remember being struck by these things. When he finished analysing the newspapers, he would give a hand to the entire office; there were five or six of us. Over time, chemistry developed between us, and after the summer, I led the secretariat; I was there for five and a half years. They were excellent years.<\/p>\n<p class=\"p1\"><b>Q.<\/b>\u00a0LV divided his day into two parts, one for the world of the Bank in the morning and the other for social issues, right?<\/p>\n<p class=\"p1\"><b>A.<\/b>\u00a0Yes, he said he was going to the other world in the afternoon. We found it amusing. There, he worked with Carlos Figueroa, Paco Aparicio, and even \u00c1ngel Ron, the general manager of Banco de Dep\u00f3sitos. It was a bank with social objectives, educational programs, and loans on honor He spent a lot of time there. Later, he developed the idea of foundations, focusing primarily on social work. It caught my attention because it was a different way of managing an organization.<\/p>\n<p class=\"p1\"><b>Q.<\/b>\u00a0LV would like to retreat to work at Popular\u2019s facilities in San Rafael in Segovia. How was the day organized?<\/p>\n<p class=\"p1\"><b>A.<\/b>\u00a0I worked a continuous schedule and ended up living with him when he went to San Rafael from Tuesday to Friday, to avoid going back and forth all the time. On Mondays and Tuesdays, the President was in Madrid, and he had lunch there twice, with half portions of green beans and hake, to be with more people at lunchtime and gather more information. He didn\u2019t see clients; it was primarily politicians and people from the cultural world.<\/p>\n<p class=\"p1\"><b>Q. <\/b>Like who, for example?<\/p>\n<p class=\"p1\"><b>A.<\/b>\u00a0Writers He loved talking to them and also with politicians. He had excellent contacts with people from all ideologies, from monarchists to communists. He had lived through the Transition period intensely, where he played a very significant role.<b>\u00a0<\/b><\/p>\n<p class=\"p1\"><b>Q<\/b>. What was his relationship with King Juan Carlos I?<\/p>\n<p class=\"p1\"><b>A.<\/b>\u00a0He was always very close to him and the entire Royal Family. It can even be said that he had a very close relationship with Don Juan. It wasn\u2019t unusual for him to be called to the Zarzuela Palace for various matters. I believe Luis Valls played a vital role in the years leading up to Franco\u2019s death and, afterwards, pushing for the arrival of democracy. He enjoyed that world much more than the purely banking world. In the end, he came to the Bank by accident at the request of his uncle. He was an extremely intelligent and sharp man who organized the institution and created a very advanced management system for his time. For him, compliance issues, corporate culture, integrity in management, and social impact\u2014things we\u2019ve seen now well developed\u2014were fundamental, and he implemented them at Popular from time immemorial. He was years ahead in terms of social responsibility, culture and strict financial and cost management, which made Popular so profitable. An example of this unique vision was the Repertoire of Topics included in the reports, where he detailed successes and failures to serve as examples for everyone. No one else did or has done that in banking since.<\/p>\n<p class=\"p1\"><b>P. <\/b>Journalistically, those texts were fascinating and curious because it wasn\u2019t usual for people to admit their own mistakes as they did there\u2026<\/p>\n<p class=\"p1\"><b>A.<\/b>\u00a0It was delightful. They were published for 23 years, and LV was very involved in the process, with the help of Rafael Pro, a brilliant and cultured person. It demonstrated that the Bank could acknowledge both the good and the bad. There were chapters on external and internal challenges, always ending with a moral. It was very respectful because names were never published, except in the case of Pepe from Popular, which was a highly publicized case, but it was handled with respect. Those texts were a wellspring of wisdom for all employees, not just for those at Popular but also those in other banks.<b>\u00a0<\/b><\/p>\n<p class=\"p1\"><b>Q.<\/b>\u00a0Returning to the cabinet years ago, was your work strictly within the cabinet, or could you progress through outside experience?<b>\u00a0<\/b><\/p>\n<p class=\"p1\"><b>A.<\/b>\u00a0You could grow, as I did. After attending some bankers\u2019 meetings in New York with Manuel Mart\u00edn, a technically skilled secretary-general, LV asked me if I liked American banking. I said yes without hesitation, and I was able to do internships at banks like Bank of New York in New York City and First Union in North Carolina. I participated in a highly practical program in Australia where we were tasked with reviving a bankrupt bank. It was an incredible experience aimed at training in risk management and commercial areas with a more advanced banking concept, the American way. I think he supported two or three people. The President was clear that we had to understand cutting-edge businesses and we had to rotate positions. Later, I moved to the International Banking division, which opened up a world for me\u2014not just in the United States but also through experiences with our partners in Argentina, Brazil, Peru, Chile, etc. Afterwards, I joined the Corporate Development Area with Garc\u00eda Cu\u00e9llar, Pablo Isla, and \u00c1ngel Ron. They were the Bank\u2019s top executives at that time. Later, I left Popular because I didn\u2019t fit well with Garc\u00eda Cu\u00e9llar, who was CEO at the time. However, that adventure was short-lived because he left a week later, and the President called me back. I returned to oversee Human Resources and later Technology under \u00c1ngel Ron as CEO. I also took charge of Commercial Banking, and after my final stint as General Business Director, I left Banco Popular in January 2013 and joined Santander.<\/p>\n<p class=\"p1\"><b>Q.<\/b>\u00a0Do you have the impression that LV liked journalism, perhaps even wished he could have been a journalist?<\/p>\n<p class=\"p1\"><b>A.<\/b>\u00a0He loved journalism. He liked banking the least. He was so cultured that he was compared to Renaissance Florentines. He was an avid reader. In San Rafael, there were towers of books and papers; he never stopped reading and clipping articles. There were about 11,000 books there, and I helped organize them to build a good library\u2014initially alone and later with some students from nearby colleges.<\/p>\n<p class=\"p1\"><b>Q.<\/b>\u00a0Did you end up living in the house in San Rafael?<\/p>\n<p class=\"p1\"><b>A<\/b>. Yes, because commuting from Madrid was uncomfortable, so I stayed overnight. The days were long; we started with Mass at 7 in the cold of Segovia. After breakfast, we worked from 8 to 8 without a break. They would clear away his papers at lunchtime, and he would eat at the same table. After a little nap and prayer, he would continue working. At 8 pm, he always said, \u201cWe\u2019re closing shop\u201d. If there were a soccer match, I would go to the village because there was no TV in the house.<\/p>\n<p class=\"p1\"><b>Q.<\/b>\u00a0What was that house in San Rafael like?<\/p>\n<p class=\"p1\"><b>A.<\/b>\u00a0Very austere. In San Rafael, there was a main house and two others adjacent . They refurbished the main house nicely with an excellent interior design using beautiful wood. After the renovations were done, one day, he visited it, said, \u201cHow curious,\u201d closed the door, and we never went inside again. We continued staying in one of the smaller houses. My room had an iron bed with a crucifix on the wall\u2014absolute austerity.<\/p>\n<p class=\"p1\"><b>Q.<\/b> Did the President monitor the Bank\u2019s management closely?<\/p>\n<p class=\"p1\"><b>A.<\/b>\u00a0He controlled the Bank completely and was always in contact with the CEOs, especially Ricardo Lacasa, with whom he had a close friendship, and Alfonso Ayala. We took eight or ten suitcases to San Rafael filled with papers and documents on risks, properties, and commercial areas. He didn\u2019t entertain guests; there were no visits, and he analysed all the documentation during the week.<\/p>\n<p class=\"p1\"><b>Q.<\/b>\u00a0Could it be said that he had friends at the Bank?<\/p>\n<p class=\"p1\"><b>A<\/b>. It wasn\u2019t easy to befriend Luis Valls because he was not very accessible and didn\u2019t show emotions. He was cold. Due to my character and intellectual curiosity, I kept asking questions about everything, including Opus Dei, although I never joined. During moments of relaxation, he told me many things, but afterwards, I felt he regretted talking so much and wouldn\u2019t speak to me for the rest of the day. That was how it was.<\/p>\n<p>bank. It was an incredible experience aimed at training in risk management and commercial areas with a more advanced banking concept, the American way. I think he supported two or three people. The President was clear that we had to understand cutting-edge businesses and we had to rotate positions. Later, I moved to the International Banking division, which opened up a world for me\u2014not just in the United States but also through experiences with our partners in Argentina, Brazil, Peru, Chile, etc. Afterwards, I joined the Corporate Development Area with Garc\u00eda Cu\u00e9llar, Pablo Isla, and \u00c1ngel Ron. They were the Bank\u2019s top executives at that time. Later, I left Popular because I didn\u2019t fit well with Garc\u00eda Cu\u00e9llar, who was CEO at the time. However, that adventure was short-lived because he left a week later, and the President called me back. I returned to oversee Human Resources and later Technology under \u00c1ngel Ron as CEO. I also took charge of Commercial Banking, and after my final stint as General Business Director, I left Banco Popular in January 2013 and joined Santander.<\/p>\n<p><strong>Q<\/strong>. Do you have the impression that LV liked journalism, perhaps even wished he could have been a journalist?<\/p>\n<p><strong>A<\/strong>. He loved journalism. He liked banking the least. He was so cultured that he was compared to Renaissance Florentines. He was an avid reader. In San Rafael, there were towers of books and papers; he never stopped reading and clipping articles. There were about 11,000 books there, and I helped organize them to build a good library\u2014initially alone and later with some students from nearby colleges.<\/p>\n<p><strong>Q<\/strong>. Did you end up living in the house in San Rafael?<\/p>\n<p><strong>A<\/strong>. Yes, because commuting from Madrid was uncomfortable, so I stayed overnight. The days were long; we started with Mass at 7 in the cold of Segovia. After breakfast, we worked from 8 to 8 without a break. They would clear away his papers at lunchtime, and he would eat at the same table. After a little nap and prayer, he would continue working. At 8 pm, he always said, \u201cWe\u2019re closing shop\u201d. If there were a soccer match, I would go to the village because there was no TV in the house.<\/p>\n<p><strong>Q<\/strong>. What was that house in San Rafael like?<\/p>\n<p><strong>A<\/strong>. Very austere. In San Rafael, there was a main house and two others adjacent. They refurbished the main house nicely with an excellent interior design using beautiful wood. After the renovations were done, one day, he visited it, said, \u201cHow curious,\u201d closed the door, and we never went inside again. We continued staying in one of the smaller houses. My room had an iron bed with a crucifix on the wall\u2014absolute austerity.<\/p>\n<p><strong>Q<\/strong>. Did the President monitor the Bank\u2019s management closely ?<\/p>\n<p><strong>A<\/strong>. He controlled the Bank completely and was always in contact with the CEOs, especially Ricardo Lacasa, with whom he had a close friendship, and Alfonso Ayala. We took eight or ten suitcases to San Rafael filled with papers and documents on risks, properties, and commercial areas. He didn\u2019t entertain guests; there were no visits, and he analysed all the documentation during the week.<\/p>\n<p><strong>Q<\/strong>. Could it be said that he had friends at the Bank?<\/p>\n<p><strong>A<\/strong>. It wasn\u2019t easy to befriend Luis Valls because he was not very accessible and didn\u2019t show emotions. He was cold. Due to my character and intellectual curiosity, I kept asking questions about everything, including Opus Dei, although I never joined. During moments of relaxation, he told me many things, but afterwards, I felt he regretted talking so much and wouldn\u2019t speak to me for the rest of the day. That was how it was.[\/vc_column_text][\/vc_column][\/vc_row][vc_row type=&#8221;full_width_background&#8221; full_screen_row_position=&#8221;middle&#8221; column_margin=&#8221;default&#8221; equal_height=&#8221;yes&#8221; content_placement=&#8221;top&#8221; column_direction=&#8221;default&#8221; column_direction_tablet=&#8221;default&#8221; column_direction_phone=&#8221;default&#8221; scene_position=&#8221;center&#8221; top_padding=&#8221;0%&#8221; text_color=&#8221;dark&#8221; text_align=&#8221;left&#8221; row_border_radius=&#8221;none&#8221; row_border_radius_applies=&#8221;bg&#8221; overflow=&#8221;visible&#8221; overlay_strength=&#8221;0.3&#8243; gradient_direction=&#8221;left_to_right&#8221; shape_divider_position=&#8221;bottom&#8221; bg_image_animation=&#8221;none&#8221; gradient_type=&#8221;default&#8221; shape_type=&#8221;&#8221;][vc_column top_padding_desktop=&#8221;10&#8243; bottom_padding_desktop=&#8221;10&#8243; left_padding_desktop=&#8221;0&#8243; right_padding_desktop=&#8221;0&#8243; column_element_direction_desktop=&#8221;default&#8221; column_element_spacing=&#8221;default&#8221; desktop_text_alignment=&#8221;default&#8221; tablet_text_alignment=&#8221;default&#8221; phone_text_alignment=&#8221;default&#8221; background_color_opacity=&#8221;1&#8243; background_hover_color_opacity=&#8221;1&#8243; column_backdrop_filter=&#8221;none&#8221; column_shadow=&#8221;none&#8221; column_border_radius=&#8221;none&#8221; column_link_target=&#8221;_self&#8221; column_position=&#8221;default&#8221; gradient_direction=&#8221;left_to_right&#8221; overlay_strength=&#8221;0.3&#8243; width=&#8221;1\/1&#8243; tablet_width_inherit=&#8221;default&#8221; animation_type=&#8221;default&#8221; bg_image_animation=&#8221;none&#8221; border_type=&#8221;simple&#8221; column_border_width=&#8221;none&#8221; column_border_style=&#8221;solid&#8221; column_padding_type=&#8221;advanced&#8221; gradient_type=&#8221;default&#8221;][vc_gallery css=&#8221;&#8221; type=&#8221;flickity_static_height_style&#8221; images=&#8221;12432&#8243; flickity_spacing=&#8221;5px&#8221; flickity_controls=&#8221;none&#8221; flickity_overflow=&#8221;visible&#8221; flickity_wrap_around=&#8221;no-wrap&#8221; flickity_box_shadow=&#8221;none&#8221; image_loading=&#8221;default&#8221; display_title_caption=&#8221;true&#8221; onclick=&#8221;link_image&#8221; flickity_img_height=&#8221;600&#8243;][\/vc_column][\/vc_row][vc_row type=&#8221;in_container&#8221; full_screen_row_position=&#8221;middle&#8221; column_margin=&#8221;default&#8221; column_direction=&#8221;default&#8221; column_direction_tablet=&#8221;default&#8221; column_direction_phone=&#8221;default&#8221; scene_position=&#8221;center&#8221; text_color=&#8221;dark&#8221; text_align=&#8221;left&#8221; row_border_radius=&#8221;none&#8221; row_border_radius_applies=&#8221;bg&#8221; overflow=&#8221;visible&#8221; overlay_strength=&#8221;0.3&#8243; gradient_direction=&#8221;left_to_right&#8221; shape_divider_position=&#8221;bottom&#8221; bg_image_animation=&#8221;none&#8221;][vc_column column_padding=&#8221;no-extra-padding&#8221; column_padding_tablet=&#8221;inherit&#8221; column_padding_phone=&#8221;inherit&#8221; column_padding_position=&#8221;all&#8221; column_element_direction_desktop=&#8221;default&#8221; column_element_spacing=&#8221;default&#8221; desktop_text_alignment=&#8221;default&#8221; tablet_text_alignment=&#8221;default&#8221; phone_text_alignment=&#8221;default&#8221; background_color_opacity=&#8221;1&#8243; background_hover_color_opacity=&#8221;1&#8243; column_backdrop_filter=&#8221;none&#8221; column_shadow=&#8221;none&#8221; column_border_radius=&#8221;none&#8221; column_link_target=&#8221;_self&#8221; column_position=&#8221;default&#8221; gradient_direction=&#8221;left_to_right&#8221; overlay_strength=&#8221;0.3&#8243; width=&#8221;1\/1&#8243; tablet_width_inherit=&#8221;default&#8221; animation_type=&#8221;default&#8221; bg_image_animation=&#8221;none&#8221; border_type=&#8221;simple&#8221; column_border_width=&#8221;none&#8221; column_border_style=&#8221;solid&#8221;][vc_column_text css=&#8221;&#8221; text_direction=&#8221;default&#8221;]\n<p class=\"p1\">It seems he didn\u2019t want to reveal too much\u2026<\/p>\n<p class=\"p1\"><b>A.<\/b>\u00a0He wanted to protect himself and shield himself because of his position at the Bank and his involvement in political movements at the time, which was significant; he needed a shield and was very inaccessible to many people. It\u2019s not that you had to fear him, but he was an artist of silence. He mastered it like few others, just like his gaze, with those penetrating blue eyes that held your gaze, conveying incredible strength and security. Most people crumbled under that stare, including many bank executives. He wasn\u2019t an easy person, as I mentioned before.<\/p>\n<p class=\"p1\"><b>Q.<\/b>\u00a0How was your personal relationship?<br \/>\n<b>A.<\/b>\u00a0Meeting him at such a young age greatly impacted me; I always say he was like a second father to me. It was a great experience; I felt cared for in a way, supported in my career, and very guided. If you are a grateful person, your loyalty goes beyond professional loyalty. I always say I learned a lot from him and Ricardo Lacasa, who was always in the background but played a significant role in Valls\u2019 life and that of the Bank itself.<\/p>\n<p class=\"p1\"><b>Q.<\/b>\u00a0Did he donate any of his personal money to social causes?<\/p>\n<p class=\"p1\"><b>A.<\/b>\u00a0Yes, I remember that some years, by December, he would tell me to leave the checking account at zero and to donate whatever was in it, sometimes up to 140 million pesetas. Initially, the money went mostly to Opus Dei organizations, but later, it shifted to foundations and specific social projects.<\/p>\n<p class=\"p1\"><b>Q. <\/b>What kind of associations?<\/p>\n<p class=\"p1\"><b>A.<\/b>\u00a0We got to know people with many needs, like Ciudad de los Muchachos and Father Castro in Vallecas\u2026 The range widened, and a lot of people were helped. I remember that he organized a meal or a snack at Ciudad de los Muchachos with the enormous gifts he received at Christmas. Being a numerary member, he had no vows, but he embraced austerity and, I believe, poverty. I remember throwing away a worn jacket he intended to wear to a meeting of the seven big bankers. Appearances meant nothing to him. Sometimes, he went to bankers\u2019 meetings in a Talbot Horizon, a red one with a black hood, which was his driver\u2019s car so that he could watch Real Madrid play on game days. \u00a0The Talbot arrived among all the Mercedes of the bankers. Deep down, he liked to break norms and present a different image.<b>\u00a0<\/b><\/p>\n<p class=\"p1\"><b>Q.<\/b>\u00a0Did he ever want to write a book about his management model?<br \/>\n<b>A.<\/b> He noted down many phrases, his own and those he read or heard, but he didn\u2019t want to write a book about himself or have one written about him. I think if he had written one, It would still be relevant today, practical, and practical as a management guide. In fact, there are one or two of his phrases that I have framed in my office, and to this day, I still find them useful. In banking, he believed success came from management and that there was no need to set objectives to reach a share of the market. He thought about costs in terms of productive expenditure, so at eight, when we left, he went through all the floors of the building, turning off the lights\u2026<\/p>\n<p class=\"p1\"><b>Q.<\/b>\u00a0What was his criterion for social assistance?<br \/>\n<b>A.<\/b>\u00a0He always handled it with Carlos Figuero; he believed a lot in repayable aid because he didn\u2019t like giving money away, saying it wasn\u2019t appreciated. Even though he barely charged interest and offered very long terms, he asked for it to be repayable. He strongly supported education for talented people without resources, with credits of honor, very American-style when that sort of thing didn\u2019t exist in Spain. He set two conditions for those he helped: not to publicize it and to pray for him. The aid varied considerably: from some nuns who had no resources to fix the convent roof or replace their dentures to an association planning to build a home for abandoned girls. He liked this direct type of tangible aid, but it meant we had to go to places, hire the builder, oversee the work, and that sort of thing\u2026 Sometimes, he asked them to build a small chapel.<\/p>\n<p class=\"p1\"><b>Q<\/b>. How did nuns from a distant convent discover Luis Valls\u2019 aid system if he didn\u2019t publicize it?<\/p>\n<p class=\"p1\"><b>A.<\/b>\u00a0Through word of mouth from others or a bank employee who told them\u2026 in the strangest ways, but they found out.<\/p>\n<p class=\"p1\"><b>Q. <\/b>Do you think he followed the doctrine of American gurus who had been speaking about foundations with a social character since the 1970s?<\/p>\n<p class=\"p1\"><b>A.<\/b>\u00a0Yes, and not only the Rockefellers, who did significant philanthropic work. He followed the philanthropic model of the United States and great French entrepreneurs.<\/p>\n<p class=\"p1\"><b>Q. <\/b>Did he speak English?<\/p>\n<p class=\"p1\"><b>A. <\/b>No, he spoke French moderately well, so he always wanted people around him who knew languages. His brother Javier covered the entire international flank of the Bank very well. They had a very good relationship and complemented each other.<\/p>\n<p class=\"p1\"><b>Q.<\/b>\u00a0What was his management model?<\/p>\n<p class=\"p1\"><b>A.<\/b>\u00a0The President preferred to move behind the scenes with political influence groups. I believe he was happy in the background. He never ordered; he always influenced and said, \u201cThe best way to exercise power is to influence, and that\u2019s not easy because you have to have that moral capacity in order to influence.\u201d He was a president in every sense of the word; he was everywhere, and his presence reached all areas of Banco Popular. When he entered a room, he filled the space. His stature, his gaze\u2026 He had enormousl auctoritas, recognized by everyone, internally and externally.<\/p>\n<p class=\"p1\"><b>Q. <\/b>Was Lacasa a key support for LV?<\/p>\n<p class=\"p1\"><b>A.<\/b>\u00a0Yes, Ricardo was fully dedicated to the Bank; he wrote to him, summarized notes that were delightful to read, and sent him a kind of diary of everything he did, who he spoke with, and what they talked about. It helped him a lot, and he emphasized things he thought were relevant. Ricardo managed the Bank, and Carlos handled the social side. They were the ones he spent the most time with, although he also saw many other people, like Jes\u00fas Platero, Secretary of the Board. He also spoke with Francisco Aparicio about the Bank\u2019s organization, the board, and the foundations.<\/p>\n<p class=\"p1\"><b>Q. <\/b>Did LV have a significant package of Banco Popular shares?<\/p>\n<p class=\"p1\"><b>A.<\/b>\u00a0I don\u2019t think so. There have always been doubts about whether Opus Dei had the shares; he was skilled at handling that with certain discretion. The really important element was the Shareholders Syndicate, made up of people close to him and to Banco Popular, through which he controlled the board.<\/p>\n<p class=\"p1\"><b>Q.<\/b>\u00a0Was his distance from people due to shyness?<\/p>\n<p class=\"p1\"><b>A.<\/b>\u00a0He wasn\u2019t shy; it was for self-protection and self-control. He didn\u2019t want to appear weak or show any weakness. And it wasn\u2019t easy to get to know him, what he felt and thought. I did have moments of knowing a relaxed Luis Valls, mainly while trekking. But then he would punish you with silence. I learned to manage those moments, and it wasn\u2019t bad temper. We discussed Opus Dei, internal discipline, obedience, and everything else. Some of my questions amused him; he laughed at them. He told me how he came to Opus Dei and many things. I won\u2019t mention because they are personal.<\/p>\n<p class=\"p1\"><b>Q.<\/b>\u00a0What were his relations like with his brother Javier?<br \/>\n<b>A. <\/b>They had their disagreements, but LV tried not to have confrontations. He sent messages through us from the cabinet. Javier sometimes got angry because, in the end, LV made the decisions. He might have delayed something Javier opposed, but it was done as the President wanted, even if his brother got mad. LV wasn\u2019t someone who would confront his brother; he could be challenging and direct with others. Deep down, they loved each other and were complementary.<\/p>\n<p class=\"p1\"><b>Q. <\/b>Why did he stop going to San Rafael?<\/p>\n<p class=\"p1\"><b>A. <\/b>He was on ETA\u2019s hit list, and once thought I saw an ETA member at the toll booth near San Rafael. The Civil Guard explained it was an impossible place to protect, an easy target because it was an isolated house with only two bodyguards, so he stopped going. It hurt him significantly because he felt great satisfaction being isolated in that house. He enjoyed the solitude, reading, and walking there.<\/p>\n<p class=\"p1\"><b>Q. <\/b>Can you describe his departure from the cabinet?<\/p>\n<p class=\"p1\"><b>A.<\/b>\u00a0It was challenging; he rejected all the proposed replacements. Ultimately, he liked Miguel \u00c1ngel Prieto, a great person, and I saw my opportunity to continue my career at the Bank. We stayed in touch until his death, and he always supported me.<\/p>\n[\/vc_column_text][\/vc_column][\/vc_row][vc_row type=&#8221;full_width_content&#8221; full_screen_row_position=&#8221;middle&#8221; column_margin=&#8221;default&#8221; equal_height=&#8221;yes&#8221; content_placement=&#8221;middle&#8221; column_direction=&#8221;default&#8221; column_direction_tablet=&#8221;default&#8221; column_direction_phone=&#8221;column_reverse&#8221; bg_color=&#8221;#968523&#8243; scene_position=&#8221;center&#8221; text_color=&#8221;dark&#8221; text_align=&#8221;left&#8221; row_border_radius=&#8221;none&#8221; row_border_radius_applies=&#8221;bg&#8221; overflow=&#8221;visible&#8221; overlay_strength=&#8221;0.3&#8243; gradient_direction=&#8221;left_to_right&#8221; shape_divider_position=&#8221;bottom&#8221; bg_image_animation=&#8221;none&#8221; gradient_type=&#8221;default&#8221; shape_type=&#8221;&#8221;][vc_column column_padding=&#8221;padding-2-percent&#8221; column_padding_tablet=&#8221;inherit&#8221; column_padding_phone=&#8221;inherit&#8221; column_padding_position=&#8221;all&#8221; top_margin=&#8221;10&#8243; column_element_direction_desktop=&#8221;default&#8221; column_element_spacing=&#8221;0px&#8221; desktop_text_alignment=&#8221;center&#8221; tablet_text_alignment=&#8221;default&#8221; phone_text_alignment=&#8221;default&#8221; background_color=&#8221;#968523&#8243; background_color_opacity=&#8221;1&#8243; background_hover_color_opacity=&#8221;1&#8243; column_backdrop_filter=&#8221;none&#8221; column_shadow=&#8221;none&#8221; column_border_radius=&#8221;none&#8221; column_link_target=&#8221;_self&#8221; column_position=&#8221;default&#8221; gradient_direction=&#8221;left_to_right&#8221; overlay_strength=&#8221;0.3&#8243; width=&#8221;1\/1&#8243; tablet_width_inherit=&#8221;default&#8221; animation_type=&#8221;default&#8221; bg_image_animation=&#8221;none&#8221; border_type=&#8221;simple&#8221; column_border_width=&#8221;none&#8221; column_border_style=&#8221;solid&#8221; column_padding_type=&#8221;default&#8221; gradient_type=&#8221;default&#8221;][split_line_heading animation_type=&#8221;default&#8221; text_direction=&#8221;default&#8221;]\n<h4><span style=\"color: #ffffff;\">Related Interviews<\/span><\/h4>\n[\/split_line_heading][divider line_type=&#8221;Small Line&#8221; line_alignment=&#8221;center&#8221; line_thickness=&#8221;1&#8243; divider_color=&#8221;extra-color-1&#8243; custom_line_width=&#8221;200&#8243;][\/vc_column][\/vc_row]\n","protected":false},"excerpt":{"rendered":"<p>[vc_row type=&#8221;full_width_background&#8221; full_screen_row_position=&#8221;middle&#8221; column_margin=&#8221;default&#8221; column_direction=&#8221;default&#8221; column_direction_tablet=&#8221;default&#8221; column_direction_phone=&#8221;default&#8221; bg_color=&#8221;#ffffff&#8221; bg_image=&#8221;13588&#8243; bg_position=&#8221;left top&#8221; background_image_loading=&#8221;default&#8221; bg_repeat=&#8221;no-repeat&#8221; scene_position=&#8221;center&#8221; top_padding=&#8221;4%&#8221; bottom_padding=&#8221;4%&#8221; text_color=&#8221;light&#8221; text_align=&#8221;left&#8221; row_border_radius=&#8221;none&#8221; row_border_radius_applies=&#8221;bg&#8221; overflow=&#8221;visible&#8221; enable_gradient=&#8221;true&#8221; color_overlay=&#8221;#0a0a0a&#8221; overlay_strength=&#8221;0.5&#8243; gradient_direction=&#8221;left_to_right&#8221; shape_divider_position=&#8221;bottom&#8221; bg_image_animation=&#8221;none&#8221; parallax_bg=&#8221;true&#8221; parallax_bg_speed=&#8221;fast&#8221; gradient_type=&#8221;default&#8221;&#8230;<\/p>\n","protected":false},"author":1,"featured_media":13589,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[67],"tags":[],"class_list":{"0":"post-11255","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-in-depth"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - 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