BBVA appoints new president to completely overhaul its digital sector

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Banco Bilbao Vizcaya Argentaria (BBVA) has appointed Carlos Torres Vila as its new president and COO, as the banking group seeks a ‘digital transformation.’

BBVA released a statement confirming Torres’ appointment after a boardroom meeting today in Madrid. Torres replaces Angel Cano, the former president and COO who managed the banking firm through the financial crisis of 2008.

‘‘Ángel has been a great president & COO during very complex years and now we start a new phase to advance toward our goal of becoming the best universal bank in the digital age,’’ said Francisco González, chairman & CEO of BBVA.

The career move coincides with what BBVA is calling a ‘digital transformation.’ Spain’s second largest bank has ‘‘approved a new organizational structure that puts digital transformation at the center of the strategy to accelerate its execution.’’

Torres’ appointment is not the only managerial change within BBVA’s hierarchy. There are a number of changes and additions to BBVA’s staff.

Vicente Rodero has been appointed the head of a new division called ‘Country Networks,’ a division which is dedicated to managing the networks and operations of all of countries operating with a BBVA bank in order to boost the results of the franchises of the Group.

BBVA new business structure

BBVA has recently had lots to celebrate. Last month saw the firm’s profits soar 146 per cent, with its profits in the first quarter jumping from €624m in 2014 to €1.54bn. Its net interest income — the profit a bank makes on its core lending activities — rose 8 per cent to €3.66bn.

‘‘Based on the three pillars of the Group –principles, people and innovation- and with this new phase that starts today, BBVA takes a significant step forward in its ambition to become the best universal bank of the digital age,’’ stated Carlos Torres Vila, newly appointed president and COO of BBVA.

 

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