Governing bodies

Board of Trustees

The Board of Trustees is the governing body of CEMFI. It is composed of a minimum of five and a maximum of sixteen members; its ex officio members are the Governor and the Deputy Governor of the Banco de España. Other members of the Board have a four-year term of office, and can be re-elected for successive terms. Its President is the Governor of the Banco de España and its Secretary is the General Secretary of the Banco de España.

Pablo Hernández de Cos Governor, Banco de España
Margarita Delgado Tejero Deputy Governor, Banco de España
Óscar Arce Hortigüela Director General, European Central Bank
Richard Blundell Professor, University College London
Vítor Constâncio President of the Council, Lisbon School of Economics and Management
Óscar Fanjul Martín Deputy Chair, Omega Capital
Teresa García-Milà Director, Barcelona School of Economics
Rachel Griffith Professor, University of Manchester
John Moore Professor, University of Edinburgh
Soledad Núñez Executive Committee Member, Banco de España
Hélène Rey Professor, London Business School
Matías Rodríguez Inciarte Chairman, Santander Universidades
Pilar Sánchez Núñez Council Member, Comisión Nacional de los Mercados y la Competencia
Jaime Terceiro Lomba Professor, Universidad Complutense de Madrid
David Webb Professor, London School of Economics
Francisco Javier Priego General Secretary, Banco de España

The Board of Trustees meets at least twice a year to approve the action plan for the next year and to approve the annual accounts of the last fiscal year.

Executive Committee

The Executive Committee is composed of a minimum of three and a maximum of five members. Its members and Chairman are appointed by the Board of Trustees. The Secretary of the Board of Trustees acts as Secretary of the Executive Commission.

Margarita Delgado Tejero Deputy Governor, Banco de España
Óscar Fanjul Martín Deputy Chair, Omega Capital
Pilar Sánchez Núñez Council Member, Comisión Nacional de los Mercados y la Competencia
Jaime Terceiro Lomba Professor, Universidad Complutense de Madrid
Francisco Javier Priego General Secretary, Banco de España

Related content

Back