Alantra has named a new chief executive and shaken up the leadership of its investment bank to adapt to what it describes as “radical changes” hitting the sector.

The mid-market-focused investment bank is set to hand the CEO role to its chief financial officer Iñigo de Cáceres as part of a series of changes at the top level. Its founder and chair Santiago Eguidazu is stepping back to executive chair, a role that will involve shaping the bank’s strategy, it said in a statement announcing the moves.