Rodrigo Buenaventura will be proposed to the Council of Ministers on Tuesday to preside over the National Securities Market Commission (CNMV) by the third vice president and Minister of Economy, Nadia Calviño.

It is the first time that a man of the house has risen to office from within. Buenaventura, who replaces Sebastián Albella, is currently the institution’s general director of Markets.

He will be accompanied, as vice president, by Montserrat Martínez Parera, who was president of Julio Segura’s chief of staff, and is currently director of the CaixaBank Presidency Office and director of Publics Affairs, where she carried out all the regulation and markets.

The two appointments, once the Council of Ministers gives its approval, must appear before the Economic Affairs Commission of the Congress of Deputies. Subsequently, once they pass the suitability test, their appointments will be approved by royal decree. Until that occurs, Albella and Ana Martínez-Pina, current vice president who is also leaving office, will continue in their positions.

In order for them to continue on an interim basis while all these procedures are carried out, the Government approved in the last Council of Ministers a modification of the law, which until now forced those responsible for the CNMV to leave their positions immediately on the day of their conclusion, in this case on November 26.

It is the first time that a president has been appointed from within the house of nine (including this one) in the 32 years of the CNMV’s existence. The previous eight have always come from abroad, either from company policy or professional offices, which was not exactly well received by the officials of the house.

The election of Buenaventura meets that profile, which was also advanced by Vice President Calviño, on whom this appointment depends, to appoint a technician and give priority to the people of the house.

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