The bad bank already has half of its staff.

The president of Sareb or bad bank, Belen Romana, has reinforced the managing team of the institution with the hiring of more professionals, high level managers, middle management and employees. The bad bank has already hired half of its staff, according to sources closed to Sareb. It has incorporated 46 employees since its creation and it plans to close its workforce with one hundred professionals before the end of March 2013, when it hopes to be in full operation.

Nevertheless, finding the best prepared candidates is the first target, and therefore there are no specific time limits to end the hiring process. The company, which is immersed in a hiring process, is currently interviewing candidates, under the supervision of the director of means, Alfredo Guitart.

In its web page www.sareb.es, still under construction, the bad bank has opened up an email address candidatos@sareb.es so that those interested can send their résumé. It also works with the aid of headhunting companies specialized in hiring personnel. The headhunter Spencer Stuart was in charge of Romana´s recruitment, whose candidacy was backed by the Minister of Economy, Luis de Guindos. Currently, 63% of the workers of Sareb belong to the areas of real estate assets and legal advice, giving permanent support to its operations. The bad bank is looking to organize an agile, efficient and a limited but operative structure. It will only have 100 employees as the management of the toxic transferred assets is in the hands of the nationalized and the group 2 institutions for an extendable period of one year. It does not wish to create a very dense structure as it will only be in operation for 15 years.

(…) The professionals will earn a maximum of 500000 Euros per year.

Source: Expansión

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