Mr. Azcárate Palacios holds a degree in Economics and Business Science from the Complutense University of Madrid (1974). He is a member of, amongst other bodies, the Audit Economist Register (REA) and the Official Auditor Register (ROAC), and the Spanish Accountancy and Business Administration Association (AECA). He was also a member of the Chartered Accountants Institute from 1978, elected by public examination.
Mr. Pedro María Azcárate Palacios holds extensive experience in the supervision, development and completion to the satisfaction of the client of audit and consultancy projects, with a wide range of both organisations and services rendered.
He joined the Bilbao Audit Division of Andersen in 1974. In 1985, he moved to San Sebastián to take charge of the offices in San Sebastian and Pamplona. In 1994 he returned to the Bilbao office as Managing Partner for the Navarre, Basque Region, La Rioja and Cantabria offices where he conducted the professional relationships with the principal clients of Andersen (Banco Guipuzcoano, BBVA, BBK, Caja Cantabria, Provincial Governments, Gamesa, Basque Government, Iberdrola, IBV, MCC, etc.), and joined the Spanish Executive Committee of Andersen.
During the period 1998/2002, he chaired the Economic and Financial Advisory Board of the Guggenheim Foundation in Bilbao. In September 2000, he moved to the Madrid office as National Director, with executive responsibility for the Assurance Services Area (Audit, Financial Consultancy, Transactions and IT Security) at Arthur Andersen. Upon the merger of Arthur Andersen with Deloitte in 2003, he undertook the same duties in the merged company (Deloitte).
Since the year 2004, he has been a member of the World Assurance Executive Committee at Deloitte. He was a member of the Executive Committee of Deloitte in Spain until 31 July 2008. Over those years, he chaired the Deloitte Risks Committee, which supervised the audits of its principal clients (ACS, Banco Santander, BBVA, El Corte Inglés, FCC, Inditex, La Caixa, NH Hoteles, Repsol, etc.). In July 2008, his statutory retirement from Deloitte took place.
Today, he is an entrepreneur with investments in certain photovoltaic production, property and publishing companies. He is a counsellor to several non-listed companies. He is also the auditor to an NGO, a member of the Board of Governors of the Economists' College of Madrid and a member of the governing body of the Audit Economist Register (REA) and the Confederation of Economists' Colleges of Spain (CGEE).