Press release

CaixaBank AM integrates Bankia Fondos following the operation's registration on the CNMV Register

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CaixaBank AM

• The merged entity holds assets under management for €74.76 billion and strengthens its leadership in the domestic market with a share close to 25%. The portfolio management service manages €38.45 billion and has a market share of 43.37%.

• The new Board of Directors of CaixaBank AM has been established with Pablo Forero Calderón as Non-Executive Chairman and Juan Bernal as Managing Director.

• The managing company has requested to change the names of the investment funds acquired from Bankia on the CNMV Register to reflect that they are owned by the CaixaBank Group.


CaixaBank AM has integrated Bankia Fondos following its registration on the CNMV Register. The operation is a result of the merger between CaixaBank and Bankia that was legally finalised in March of this year, and the merged entity now holds €74.76 billion of assets under management, thus strengthening its leadership in the domestic market with a share close to 25%. The managing company has assets under management totalling €38.45 billion and enjoys a market share of 43.37%.

The new Board of Directors of CaixaBank AM, which has been integrated within General Business Management -led by Juan Alcaraz-, is composed of Pablo Forero Calderón, as the Non-Executive Chairman, and the members Víctor Manuel Allende Fernández, Juan Carlos Genestal Martínez, Laura Comas de Alarcón, Eugenio Solla Tome, Teresa María Cubas Méndez and Cristina Rembado Thomas, the latter two as independent directors. With 43% of the Board and 28% of independent directors being women, the managing company reinforces its commitment towards gender equality and good corporate governance.

Pablo Forero served as Managing Director of Banco BPI from 2017 to 2020. He was previously Managing Director of CaixaBank, which he joined in 2009. He holds a degree in Economics from the Universidad Autónoma de Madrid. He was Head of Investments at JPMorgan Asset Management, between 1990 and 2009, and Head of Treasury and Markets at Manufacturers Hannover Trust, between 1984 and 1990.

Carmen Gimeno, who up to the present day served as Non-Executive Chairwoman of CaixaBank AM, continues as Deputy Managing Director of VidaCaixa and board member of SegurCaixa Adeslas.

At an executive level, Juan Bernal will remain as the head of the General Executive Directorate of CaixaBank AM. All members of the managing company's Management Committee will continue carrying out the same functions that they had been performing before the merger, and Pablo Hernández joins this committee as Director of the Integration Division, who until now held the position of Director of Bankia Fondos.

CaixaBank AM has requested the CNMV to change the names of the investment funds acquired from Bankia to reflect that they are owned by the CaixaBank Group. The investment funds will include CaixaBank in their name. Bankia funds that had a same or similar name as CaixaBank funds will now be temporarily changed to “CaixaBank Bankia”, so they are easily identifiable (see appendix).

Investment funds added to CaixaBank AM will maintain their investment approach and policy. Therefore, the affected fund participants will not have to carry out any additional procedures with their advisor or at their branch.

The streamlining of CaixaBank AM's range of products will not be addressed until 2022, that is, after integrating CaixaBank's technology systems. At that time, the company will duly report the expected changes to the fund as required by regulations on Collective investment Institutions, and it will provide the opportunity to redeem its units in the legally established period without any penalties. 

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