Spain appoints new deputy amidst first bailout

The Spanish government named Francisco Javier Ariztegui as the Bank of Spain's new deputy governor on Friday.

Ariztegui, who is the general director of banking supervision, replaces Jose Viñals, who resigned unexpectedly last week. Viñals is joining the International Monetary Fund (IMF) to be the new director of its monetary and capital markets department.

Viñals has played a central role in developing the Bank of Spain's much lauded approach to the regulation of the country's banking system.

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