Angel Simon, from water and La Caixa to defense

BarcelonaÁngel Simón (Manresa, 1957) starred in April of last year in one of the most talked-about divorces on the Catalan and Spanish business scene, when he was dismissed as CEO of Criteria, the investment arm of La Caixa. A long relationship with the president of La Caixa and Criteria, Isidre Fainé, had been broken. And one of the sparks to end a term that lasted about 15 months was the dismissal of José María Álvarez-Pallete at the head of Telefónica –participated by Criteria–, in agreement with Moncloa by Simón and behind Fainé's back, according to various sources. For a year, Simón, an executive accustomed to dealing with the Spanish and Catalan socialist governments, had disappeared from the public scene. And now he reappears in the midst of a power struggle at Indra, a company destined to lead the defense business, with the State, through SEPI, as the main shareholder (28%).

Before making him leave his position at Criteria, this company, in an unusual move in the discreet universe of Miró's star, contradicted a statement about the investment in the steel company Celsa, which it had practically announced as done a few days earlier. It was one of the signs of the divorce between Fainé and Simón, which later materialized. The president of La Caixa considered the steel company's business to be a poor fit for his investment strategy. Hence his anger when the investment was considered done and also the subsequent "clarification" statement. And the dismissal of the president of Telefónica, an executive highly valued by Fainé, and replaced by another person linked to the socialist orbit, Marc Murtra, was another point of contention.

Simón has an extensive career at the helm of Aguas de Barcelona (Agbar), where he was president and established it as a global benchmark in innovation management. He was also vice-president of Suez, the owner of Agbar after La Caixa sold its stake to it. This business is now also owned by the French company Veolia, in which Criteria holds 5%. And he led and won the legal battle against the concession of the management of the former Aguas Ter Llobregat (ATLL) to Acciona, which, after years, resulted in the return of this company to the orbit of the Generalitat following a Supreme Court ruling, and is now renamed ATL (with a single L).

Change of strategic plan

Civil engineer, and from Manresa like Fainé, who had considered him among his reference executives, during his time at Criteria he made many investments. Among them, the increase in participation in Telefónica to 9.9% stands out, in collusion with the Spanish government, which wanted to counteract the entry of Saudi STC into the capital. In a public appearance in Barcelona, he raised the possibility of entering the defense technology business. But the fact is that the relationship with Fainé gradually cooled, as evidenced by the fact that once Simón was dismissed, Francisco Reynés, president of Naturgy, was appointed vice-president of Criteria –another of La Caixa president's reference executives– and, recently,has just reinforced José María Méndez as CEO.

In addition to reversing investments announced during his tenure, such as that of Europastry, La Caixa has reshaped its roadmap. A few months ago, the 2025-2030 strategic plan, presented by Simón, was rewritten and aligned more closely with that of the La Caixa Foundation, its owner, which has Josep Maria Coronas as general director since January 2025, another of Fainé's trusted individuals. Criteria holds the most significant portfolio of business stakes in Spain, with a value of approximately 40 billion euros, with whose dividends it finances the foundation's social work, one of the most important in Europe.

A deep connoisseur of both the public and private sectors, Simón was manager of the Metropolitan Area (AMB) under the presidency of Pasqual Maragall. In the mid-90s, he joined the Agbar group, where he was responsible, among other tasks, for expansion into Latin America. In September 2004, he was appointed general director of the group. In 2006, he led Agbar's first major European operation in the United Kingdom, with the acquisition of Bristol Water. In 2008, he added the responsibility of Agbar's director-general to his role, which he held until his appointment as president. From his time in Latin America, Aguas Andinas in Chile, one of the largest water management companies in the region, remained. After Suez Environnement took control of Agbar, in 2010 he assumed the presidency of Agbar and since 2013 held the executive vice-presidency of what is now the also French multinational Veolia, in charge of Southern Europe and Latin America. In January 2024, he was appointed CEO of Criteria, until April 29 of last year.