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Financial Services

UPDATE 1-BBVA names U.S. business head Onur Genç as new CEO


(Adds details from statement)

MADRID, Nov 28 (Reuters) – BBVA named Onur Genç as its new chief executive on Wednesday, with the head of the Spanish bank’s U.S. operations due to take over Carlos Torres at the end of 2018 and lead its online transformation.

The succession was widely expected as Torres has already been appointed to replace Francisco Gonzalez as executive chairman of Spain’s second-biggest bank.

Genç, who is CEO of Alabama-based BBVA Compass and U.S. country manager for BBVA, will replace Torres as group CEO on Dec. 31, 2018, BBVA said in a statement.

“The Board has selected Onur as he is the ideal CEO to continue pushing forward our strategy and boosting our transformation throughout all our franchises,” BBVA said.

The appointment confirms BBVA’s strategy of shifting from traditional retail banking towards more digital services. (Reporting by Jesús Aguado Editing by Andrei Khalip and Alexander Smith)



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