The structure of BME CLEARING’s senior management, and the roles and responsibilities of each member thereof are described hereon.
If there is one, the Managing Director will have the powers conferred upon him/her by the Board of Directors and, as per Article 11 of the Board Regulations, will be responsible for effectively managing the Company's affairs, in accordance with the decisions and criteria adopted within his/her jurisdiction by the General Shareholders' Meeting and the Board of Directors.
The General Manager shall be responsible for effectively managing the Company's affairs, in accordance with the decisions and criteria adopted within their jurisdiction by the General Shareholders' Meeting and the Board of Directors.
If the Company has a Managing Director who holds the aforementioned responsibilities, the General Manager shall support the Managing Director in carrying out these functions.
The General Manager will also assist and provide technical support to the corporate bodies when requested to do so, and will permanently take charge of the day-to-day running of the central counterparty (CCP).
The day-to-day management duties of the General Manager are as follows:
The Managing Director, where appointed, and General Manager will delegate day-to-day management of the CCP to the following departments, each headed by their own officer:
Governance & Regulation, this area was created to help improve efficiency in the company's governance and in the scheduling of regulatory tasks and requirements, to ensure compliance with the established timetables, as well as to increase BME Clearing's presence in international bodies and working groups and strengthen the communication channel with regulators.
Architecture and Data, this area is divided in two subareas with two different aims:
The Managing Director will be appointed as per the provisions on appointing board members laid down in the Articles of Association and Board Regulations. In this instance, any proposal put forward by the Chairperson as per Article 8.2 of the Board Regulations will be considered.
Moreover, in order to be appointed as Managing Director it shall be required to have special knowledge of the financial instrument clearing process and a proven track-record in this line of business.
General Manager and other senior executives
The General Manager will be appointed by the Board of Directors, or by the Managing Director, if this position exists.
The other members of the Company’s senior management will be appointed by the General Manager or Managing Director, as appropriate, according to their knowledge and professional experience relating to the individual roles and responsibilities assigned to them in the Company.
The Company’s Board will be informed of any appointments and removals of senior executives.
Specifically, for the appointment of the General Manager any proposal put forward by the Chairperson will be considered as per any names put forward for the post of General Manager by the Chairperson will be considered pursuant to Article 8.2 of the Board Regulations.
Where possible, when appointing other senior executives in the Company, staff working in a department with a vacant executive position will be considered if they have a proven track-record in the relevant areas.
If there are no candidates with the appropriate qualifications and professional experience to fill the post, an external selection process will take place among candidates with suitable qualifications and experience.
The current CEO and Managing Director of BME Clearing is Mr. José Manuel Ortiz-Repiso and the General Manager is Mr. Javier Aguila Llovera. The Chief Risk Officer is Mr. Miguel Ángel Salamero, the Chief Compliance Officer is Ms. Patricia Doncel Gómez, and the Chief Technology Officer is Ms. Yolanda Álvarez Serna.
The composition, role and responsibilities of the Board of Directors and Audit Committee, Appointments and Remuneration Committee and the Risk Committee established pursuant to Article 28 of Regulation (EU) No. 648/2012, and the Executive Committee, where established, are laid down in BME CLEARING’s Articles of Association and its Board Regulations.
The procedures for appointing members of the Board of Directors are set forth in the Articles of Association and Board Regulations.
Inter alia, Article 22 of the Articles of Association and Article 22 of the Board Regulations refer to the subjective conditions that individuals to be appointed Board Members must meet. Article 37 of the Articles of Association and Article 19 of the Board Regulations determine that the Appointments and Remuneration Committee will participate in the appointment and re-election of Board Members, in the appointment and allocating roles on the Board and its committees, and in the appointment of the Board Members to sit on any of the Board Committees.
The CCP has a Board of Directors and several board committees with the necessary level of independence to meet their regulatory obligations as independent legal persons.
BME Clearing, S.A.U.’s Board of Directors is currently formed by the following five (5) members, classified as follows:
Name of Director | Class of Director |
---|---|
Chairman designation pending | -- |
Rafael Acosta | Other external Director |
Gonzalo Rubio | Independent |
Marta Bartolomé | Proprietary |
José Manuel Ortiz-Repiso | Executive |
Ángela Pineda | Secretary |
Name of Director | Class of Director |
---|---|
Gonzalo Rubio | (President) Independent |
Rafael Acosta | Other external Director |
Marta Bartolomé | Propietary |
Ángela Pineda | Secretary |
Name of Director | Class of Director |
---|---|
Marta Bartolomé (Chairman) | Proprietary |
Rafael Acosta | Other external Director |
Angela Pineda | Secretary |
Name of Director | Class of Director |
---|---|
Chairman designation pending | -- |
Gonzalo Rubio | Independent |
Enrique Soler | Clearing Member |
Álvaro Herrador | Client of CMs |
Daniel Edgerton | Client of CMs |
Manuel Pineda | Clearing Member |
Aurelien Martini | Clearing Member |
Ian Downes | Clearing Member |
Joakim Sorensen | Clearing Member |
Sergio Gómez | Client of CMs |
Ángela Pineda | Secretary |
Pursuant to Article 20.1 of the Board of Directors’ Regulations, this Committee shall comprise two (2) of which shall be independent Directors, five (5) representatives of clearing members and three (3) clients of clearing members.