The clans that run Spain's biggest companies
7 hours ago
- Spain's largest companies share a tight-knit network of elites from consulting firms like McKinsey, elite business schools, and prestigious civil service corps.
- McKinsey & Company has a deep influence in Spanish finance, with top executives at BBVA and Sabadell all former McKinsey partners, influencing management styles and decisions.
- Civil engineering schools like ICAI and business schools such as ICADE and IESE serve as major breeding grounds for corporate leaders in Spain, often with ties to the Jesuits or Opus Dei.
- State attorneys (cuerpo de abogados del Estado) are common on corporate boards, providing legal expertise and powerful networks, with many moving into private sector roles.
- The financial sector shows the densest concentration of these networks, combining former regulators, business school alumni, and ex-stockbrokers in top positions.
- Different countries have distinct elite reproduction systems—France's state-centric grandes écoles, Britain's Oxbridge old boy network, Germany's technical focus, and America's more open but still hierarchical top universities.
- Experts warn that such closed networks filter for similar profiles and may reinforce privilege and limit diversity in leadership.