The departure has lasted just over seven years. La Caixa is once again based in its place of origin, in its reference space. Depending on how you look at it, that is many years or not so many: in any case, the return does not fail to point out the exceptional nature of a move that the bank now, significantly, defines as "temporary" and that, as it recognises, did not involve "movement of people or corporate spaces or services". Barcelona continued to concentrate the employees and work centres. The move affects the La Caixa Foundation, chaired by Isidre Fainé and directed by Josep Maria Coronas, and on which the CriteriaCaixa holding company depends, which is also returning. Both were in Palma. CaixaBank, on the other hand, is not returning, and will remain in Valencia. Will it ever take the step and put an end to what has been an exceptional period for the rest?
The return of La Caixa to Catalonia, from where it left in October 2017 at the height of the independence struggle and the harsh reaction of the State, represents a turning point in the normalisation of the country's economic life, as defended and promoted by the government of the socialist Salvador Illa. It was in the air that it would happen sooner rather than later. In January, the change in the same direction of Banc Sabadell, the other large Catalan financial institution, predicted this. It made no sense to maintain the fiction of an artificial corporate headquarters outside its Barcelona decision-making centre. In addition to Sabadell, Laboratorios Ordesa, the cement company Molins and Agbar had already reversed the move, in this case with Àngel Simón as president. A Simón who is the current CEO of CriteriaCaixa. La Caixa's decision should encourage other companies that were forced to leave to reverse the anomaly.
The most important financial institution in Catalonia and Spain has therefore closed the political parenthesis that had left it out of position. The decision to return was taken "unanimously and in an extraordinary session" of the board of trustees. In its statement announcing the news, la Caixa states its social vocation linked to a commitment to "the roots" of Catalonia, that is, its birth in Barcelona in 1904 by the lawyer Francesc Moragas with the support of various civil society entities. This is what has been translated into the "soul" of la Caixa. A soul that, with the departure of the Foundation, had been blurred by part of the citizenry.
The flight of companies in October 2017 occurred thanks to the so-called Guindos decree, of the PP government, a decree that allowed companies to move their registered office without the approval of the shareholders' meeting, and it occurred in the midst of a dangerous flight of assets and companies from Catalan banks. The climate of uncertainty and political pressure led to the departure of La Caixa, despite some internal voices that were the exception and defended the Fundació not abandoning Catalonia. Wednesday's decision brings back an exceptional Foundation in Europe and the holding company that supports it, deeply rooted in Catalonia.
