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Calviño takes over from Ponce in the Frob and appoints Paula Conthe as new president

The Government has launched the procedure for the election of a new president of the Fund for Orderly Bank Restructuring (FROB), position for which the Director of Resolution in the FROB has been proposed, Paula Conthe, who will replace Jaime Ponce.

According to current regulations, the president of the FROB is appointed by the Council of Ministers, at the proposal of the third vice president and minister of Economic Affairs and Digital Transformation, Nadia Calviño, once the supervisory authorities have heard and prior appearance of the proposed person before the mandatory Commission of the Congress of Deputies.

The Government has already communicated to the supervisors, in order to comply with the mandatory consultation step, the proposed appointment of Paula Conthe Calvo as president of the FROB, as reported on Tuesday by the Department of Economic Affairs and Digital Transformation.

Once this step is completed, the next step will be to approve Conthe’s nomination proposal to the Council of Ministers so that, later, he will appear before the Economic Affairs and Digital Transformation Committee of Congress.

Once this process has been passed, the Council of Ministers will approve the Royal Decree appointing Conthe, which if these steps are completed, will replace the position of Jaime Ponce, who will join the Monetary and Capital Markets area of ​​the International Monetary Fund (IMF).

Paula Conthe is ‘Bachelor of Science in Foreign Service, Major in International Economics’ from Georgetown University (2003). He belongs to the Higher Corps of State Commercial Technicians and Economists and has an Executive Master in Management of Financial Institutions from the IEB.

Since April 2019 she is Director of Resolution at the FROB. From November 2015 to March 2019 she was Head of the Department of Resolution II (Policy) in this same body.

Previously, he held positions of various responsibilities in the General Sub-Directorate for Economic and Monetary Affairs of the EU of the General Secretary of the Treasury and Financial Policy, as well as within the Secretary of State for Trade.

From October 2013 to March 2015 she was chair of the Task Force on Coordinated Action (TFCA), a subcommittee of the Eurogroup Working Group, during the period during which the direct recapitalization instrument of the Mechanism was agreed. Stability Mechanism (ESM) and the financing mechanisms of the Single Resolution Mechanism began to be negotiated.

Before joining the Ministry of Economy, she spent four years working at Grupo Analistas as a consultant on international projects financed by multilateral organizations and aimed at developing the financial system and improving access to finance for SMEs .

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