Former Executive Chairman of Sareb Jaime Echegoyen’s passing

On behalf of the entire company, the board of directors and senior management team have offered their sincerest condolences to Jaime’s family

It is with great sadness that we report the death of former Executive Chairman Jaime Echegoyen, who passed away on Saturday 17 December following a short illness. On behalf of the entire company, the board of directors and senior management team have offered their sincerest condolences to Jaime’s family.

Jaime served as Sareb’s Executive Chairman from 2015 to 2021, following a year as CEO. It was the culmination of a long and distinguished career in the financial sector that led to some very senior appointments, including CEO of Bankinter (2002–2010) and head of Barclays in Spain and Portugal (2011–2013).

His time at Sareb was to be a turning point in the company’s development and instrumental in the fulfilment of its challenging divestment mandate. Jamie’s inexhaustible energy and principled business approach were the hallmarks of his leadership.

Under his guidance, Sareb made an important contribution to the complex task of restoring confidence in the Spanish markets following the financial crisis, helping stabilise the financial system and revitalise the real estate sector. Other milestones included the introduction of ‘servicers’ to optimise the divestment process, a renewed push to convert the company’s NPL portfolio to property assets and the launch of its first value-creating activities, including a move into property development and the completion of suspended construction works. This was also the period when Sareb embarked on its strategy of working with local authorities to promote social housing, undertaking to assign a total of 15,000 homes.

Jaime’s dedication and commitment have left an indelible mark on Sareb’s history. As both chair and CEO, he will be remembered fondly as a wonderfully kind and empathetic leader who always made time for those around him.

Our thoughts and heartfelt sympathies are with his family and friends.

R.I.P