Manuel Montecelos

Job Title Financial Services Practice Western Europe Leader,
Current Employer Willis Towers Watson

Manuel leads HR strategic consulting services for the financial sector in Western Europe: executive compensation, governance, all-employee compensation, talent management, engagement and employee insights, HR strategy, HR technology, etc. Manuel currently works with major financial institutions in Europe.

Manuel was formerly the Head of Compensation and Benefits for Santander Group and before that he was country head for HR consultancy services with Towers Watson in Spain.

Manuel holds a double degree in Law and Business by Universidad Pontificia Comillas, ICADE E3 (Madrid, Spain) and a Certificate in Business Administration by Berkeley University (California, USA).

Manuel is a member of the Development Committee of IC-A, Spanish Director’s Association for Corporate Governance, member of ecoDa (European Confederation of Directors Associations).


Manuel is an expert in executive compensation both on the HR and regulatory side of it, having consulted with all of the large listed entities in regards to corporate governance as well as with financial institutions also in regards to specific regulation. He has always been involved in the Spanish Corporate Governance codes as well as CRD implementation and has had numerous interactions with regulators, supervisors, proxy advisors and institutional investors.