Investing.com -- Banco Sabadell has appointed Marc Armengol, the current CEO of TSB, as the new CEO of the Banco Sabadell Group, replacing César González-Bueno who will step down by mutual agreement.
Armengol is expected to take over the role in May, following Banco Sabadell's Annual Shareholders' Meeting and pending necessary authorizations from the European Central Bank.
Bank chairman Josep Oliu praised González-Bueno's five-year tenure, noting that under his leadership, Banco Sabadell achieved record results and saw its share value multiply by more than 12 times - the highest valuation among IBEX companies and European banks during this period.
"He has been an exceptional CEO, with an extraordinary ability to execute, and has dedicated himself to deliver the very best for the bank," Oliu stated.
González-Bueno reflected on his departure: "These past five years have been enormously rewarding. We have an exceptional and cohesive team who are well-placed to take the bank forward. Now is the right moment to position the bank for the future."
Armengol brings nearly 25 years of experience at Banco Sabadell to the role. He joined the bank in 2002 and has held various leadership positions across the Group in Spain and internationally, particularly in technology, operations, and strategy.
His career at Banco Sabadell includes leading operations and technology in Spain, serving as COO of America & the Group's International Network, and working as a member of the Management Committee and Head of Strategy at TSB in the UK. He became CEO of TSB in November 2024, where he improved the British subsidiary's competitive position and increased its contribution to the Group's results. Armengol also played a key role in the sale of TSB to Banco Santander in the United Kingdom.
"I am very excited to take on the role of CEO, as we build a profitable business that leverages data and technology to offer the best solutions and service for our customers," Armengol said.
In addition to this leadership change, the Board of Directors has appointed Carlos Ventura as Chief Executive Officer of Business in Spain. Ventura will add Retail Banking to his current responsibilities and join the bank's highest governing body as an executive director.
Jorge Rodríguez Maroto will remain Head of Retail Banking and continue as a member of the Management Committee, reporting to Ventura. The Corporate and Investment Banking Directorate will remain unchanged under the CEO, with Cristóbal Paredes as general manager.
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