Manuel Illueca has been appointed president of the Instituto de Crédito Oficial (ICO), Spain’s official credit institute, the Council of Ministers approved on Tuesday, August 27, 2024. He succeeds José Carlos García de Quevedo, who will take a position at Spain’s permanent representation to the European Union in Brussels, according to multiple reports.
Illueca was previously the Director General of Risks and Financial Control at ICO, a role he assumed in March 2024. In that capacity, he participated in the design and implementation of key loan programs within Spain’s Recovery Plan, managed by the ICO, and contributed to the institution’s multi-year budget for 2025-2028. Prior to joining the ICO, he served as CEO of Findango Finance.
From 2015 to 2023, Illueca directed the Instituto Valenciano de Finanzas, a financial institute of the Valencian regional government, and concurrently chaired the Sociedad de Garantía Recíproca de la Comunidad Valenciana, a mutual guarantee society for the Valencian Community. He holds a PhD in Business Administration and Management from the Universitat Jaume I in Castellón, and a degree in Economics and Business Administration from the Universitat de València.
Illueca’s academic background includes a tenure as a lecturer in Financial Economics and Accounting at the Universitat Jaume I from 2004 to 2015, alongside his role as an associate researcher at the Instituto Valenciano de Investigaciones Económicas. He has published research in journals including Journal of Future Markets, Review of Finance, and Journal of Financial Intermediation, as well as Spanish publications.
José Carlos García de Quevedo had served as president of the ICO for six years, overseeing initiatives such as Covid-19 loan guarantees and programs linked to the European Union’s ‘Next Generation EU’ funds. Before his appointment to the ICO, García de Quevedo was the executive director of Invest in Spain.
