| Emilio Ybarra | ||||||
The departure of Banco Bilbao Vizcaya Argentaria’s co-chairman Emilio Ybarra was half expected. But the resignation of CEO and vice-chairman Pedro Luis Uriarte, announced on the same day, shocked the market.
Ybarra was due to retire in March anyway two and a half years on from the merger of Banco Bilbao Vizcaya (BBV) and Argentaria. He said integration was completed early and with great success and that although during a merger co-chairmanship made sense “there is no longer any reason for the existence of two chairmen”.
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