BBVA Revamps Corporate Structure for ‘Digital Transformation’ (May 5, 2015)
BBVA is shaking up its corporate structure as part of what the bank calls a “digital transformation.” The Spanish bank—which operates U.S. subsidiary BBVA Compass—on Monday appointed its digital banking head, Carlos Torres Vila, as president and chief operating officer. “Amid the disruption underway in banking, with new consumer demands, digital entrants and new business models, BBVA has defined a structure to carry out digital transformation as the group’s top priority,” the bank said in a statement. Torres Vila joined BBVA in 2008 as head of strategy and corporate development and later was named head of the bank’s global digital banking unit, which was created last year. He replaces Angel Cano as president and chief operating officer.
Along with the appointment of Vila, the bank also revamped its management structure, naming Vicente Rodero to the newly created position of head of country networks, charged with overseeing growth of BBVA’s digital banking business in global markets. Country managers will report to Rodero directly, and he will continue as the chief executive of BBVA’s Mexican business Bancomer.
BBVA has long touted the importance of digital banking and payments. In 2014, the bank acquired Simple, the Paybefore Award-winning digital banking provider, which at the time had more than 100,000 U.S. customers. Later that year, BBVA became the first major global bank to commercially launch a mobile payments service based on host card emulation. And last month, BBVA Compass became the largest financial institution to use Dwolla’s instant-ACH transfer service.
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