HE President of Mutua Madrileña, Ignacio Garralda, was named Honorary Academician between Royal Academy of Economic and Financial Sciences (RACEF), Institution belonging to the Institute of Spain, which is the greatest representative of Spanish culture in the academic order and to which all Spanish royal academies belong.
With this distinction, RACEF recognizes Ignacio Garralda’s professional career and his contribution to financial and business innovation through the implementation of initiatives that led to significant advances for the companies he led, thus anticipating economic and social changes.
naming ceremony Honorary Academician It took place during the opening session of the 2023-2024 academic year of the Royal Academy of Economic and Financial Sciences, the only one of Spain’s royal academies based in Barcelona.
During the acceptance process Honorary AcademicianIgnacio Garralda gave the speech “New challenges of the company in the face of the new society.” The Mutua Group chairman touched upon, among other things, social and economic changes that are imposing a new model of relationship between the company and society, giving increasing importance to corporate social responsibility and sustainability in business management. .
The greater involvement of companies in the development of a more inclusive and prosperous society has given way over the last two decades to a much more demanding role for citizens in terms of what is expected of them, according to the Mutua Group chairman. “. “Values that were previously little appreciated, such as transparency, exemplary and meritocracy, are now considered indispensable today,” he added.
In Ignacio Garralda’s opinion, “We are managers of companies that have to gain the trust of society.; “And this can only be achieved with a level of management transparency that reassures citizens that the value system the company claims to have matches reality.” In addition, the Mutua Group chairman also insisted that companies should focus more on improving people’s lives and contributing to the development of society. “And one of the ways to do that is to promote equal opportunity,” he said.
After Garralda’s intervention, RACEF principal academician Manuel Pizarro made the response speech on behalf of the institution.. In addition to the company’s academics, CaixaBank CEO Gonzalo Gortázar; Salvador Alemany, president of Saba Infraestructuras; José Creuheras, president of Grupo Planeta; Tomás Muniesa, vice president of CaixaBank; Endesa’s president Juan Sánchez-Calero or economist Ramón TÜMES, among others.
About RACEF
Royal Academy of Economic and Financial Sciences (RACEF) An official scientific and technical organization whose purpose is the research, study and promotion of economic and financial sciences.
It is divided into 4 departments: Economic Sciences, Economic-Accounting and Financial Technique, Psychology and Social Sciences, and Legislation and Law.
Successful career path
Ignacio Garralda has a Law degree from Complutense University and is a licensed notary. He started his professional career as a stock market agent. After serving as president of Bancoval for a while, in 1984 Together with Salvador García-Atance and Pedro Guerrero, he founded the company AB Asesores BursátilesThe first independent bank and savings bank company in Spain dedicated to financial analysis and brokerage.
after 2001 Sale of Stock Advisors to Morgan Stanley, Ignacio Garralda and establishment of Lealtad Foundation with Salvador García-AtanceIt is a non-profit organization whose mission is to analyze the transparency and good practices of NGOs to encourage and facilitate donations from companies. For a decade, Ignacio Garralda focused his efforts on promoting the Third Sector as a pillar of the Spanish economy.
In January 2008, Ignacio Garralda, who by then was vice president of Mutua Madrileña, took over the executive presidency. Despite the economic and financial crisis in Spain since then, the insurance group has It has recorded steady and continuous growth over these 15 years. Both in terms of revenue and results and the value of equity assets, thanks to the strategic redesign of the company and the strong diversification process carried out.
Right now, Mutua Madrileña Group is a leader in the national rankings of ‘Non-Life’ insurance and health insurancefrom beginning to end SegurCaixa AdeslasIt is a company integrated into its own business group and owned by it. CaixaBank. Likewise, it is the second national insurance group in Motor Insurance and the third in Life and Non-Life insurance. It has a portfolio of more than 20 million policyholders and premium income of over 7,300 million Euros with year-end 2022 data. It has a staff of more than 11,000 employees and assets worth over €17,000 million.
Ignacio Garralda also Director of El Corte Inglés and Endesa, member of the Board of Trustees of the Princess of Asturias Foundation and jury member of the Concord Prize.