Saturday, February 4, 2012

Rodrigo Rato must restrict his wage in a 75%

The Spanish government has decided to restrict the wage in the savings bank that received state economic aid. This rule would affect directly to the rulers of these savings bank.

For example, the president of Bankia, Rodrigo Rato, must reduce his wage about 75%. Francisco Verdú, managing director in Bankia, also must see reduced its wage from 2.26 milion € to the fixed maximum, 600,000 €. That's because this bank received state economic investments due to the FROB 1 plan.

But they are not going the only affected ones by the measures announced by the government. José María Castellano, president of Novagalicia, entity that is controlled in a 90% by the state, must restrict his salary in 600,000 €, until 300,000 €. The managing director of NCG, César González Bueno, would do the same.

Also, the main responsible of Catalunya Caixa, saving bank controlled with a 93% by the state, Adolf Todó is over the limits of the government. He gets 1.55 milion € every year, even if the limit is of 300,000 €.

The executives of Unnim, the third nationalized entity are in the same way. Jordi Mestre, its president, gets three times the quantity fixed by the government.

Banca Cívica also has this problem; both co-presidents Antonio Pulido and Enrique Goñi get 900,000 per year. This adjustment will be smaller for Carlos Egea, president of BMN, whose wage is 450,000 € per year.


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