Bankia and Gamesa have shown that recovery is hard, but possible. Both companies are nearing approval to join the Ibex 35. Bankia is a new company even though it could keep its old name in order to keep from spending taxpayer money.
It has been very beneficial for Bankia, led by CEO José ignacio Goirigolzarri, to change its name in order to distinguish it from the institutions recent bankruptcy. With the wind turbine business diminishing in Spain, Gamesa has taken its business outside of the country to take advantage of tremendous development potential elsewhere.
Both companies could earn a spot on the Ibex 35, but the selection committee could always decline their entry for subjective reasons.
