Overview

• The Bank of Spain's General Directorate of Economics has been significantly downsized, losing departments and staff to other directorates.
• This restructuring comes shortly after the resignation of Ángel Gavilán, the former head of the General Directorate of Economics.
• The new organizational structure emphasizes a functional rather than hierarchical model to improve interrelation and synergies.
• Carlos Thomas moves to the Financial Stability area, while Galo Nuño becomes deputy director of Economics, with a new department head yet to be appointed.
• A strategic plan extending to 2030 has been approved, with details to be shared with staff in the coming days.