Jose Ignacio Goirigolzarri to resign at board meeting
Deputy chairman Tomas Muniesa to take over
Changes come ahead of bank39;s strategic plan in November

MADRID, Oct 30 Reuters The deputy chairman of Caixabank, Tomas Muniesa, is set to succeed Jose Ignacio Goirigolzarri as chairman of Spain39;s biggest lender by domestic assets, a source with knowledge of the matter said.

The reshuffle comes as Europe39;s lenders are adapting to a changing market environment as falling interest rates put pressure on margins.

The changes will take place following a board meeting later on Wednesday, the source said, adding Muniesa was likely to become chairman after Goirigolzarri39;s voluntary resignation.

Caixabank declined to comment.

The bank39;s shares were up 0.9 at 0924 GMT, while Spain39;s leading bluechip index was down 0.5.

Goirigolzarri39;s resignation comes a day before the lender is scheduled to announce thirdquarter earnings and ahead of the release of a strategic plan expected on Nov. 19.

Goirigolzarri, 70, became executive chairman of Caixabank after the lender39;s acquisition of Bankia in 2020.

He formally took over as head of the lender in 2021 and his tenure would have to be renewed at the bank39;s next shareholder meeting, usually in spring.

Muniesa39;s promotion would need the approval of the board later on Wednesday, while Goirigolzarri39;s resignation would not need to be signed off.

It was not clear when the changes would be effective.

Caixabank39;s…