Banco Sabadell replaces César González-Bueno and appoints Marc Armengol as new CEO | Economy | EUROtoday

Banco Sabadell has determined to alleviate César González-Bueno because the entity’s chief government officer and has appointed, in his place, Marc Armengol, who till now managed what was its British subsidiary TSB, bought to Santander. The change happens in a context of transformation for the Catalan financial institution, after forsaking the hostile takeover launched by BBVA. The relationship between González-Bueno and Sabadell was terminated by mutual will and after reaching an settlement with Josep Oliu, who will proceed to preside over the entity. “It is the optimal time,” Sabadell reported in a press release.

Josep Oliu has publicly thanked the duty carried out by his right-hand man till now: “The changes that González-Bueno has promoted in the organization, and that have led the team to achieve several historical records of results and multiply the value of Banco Sabadell’s share by more than 12 times in five years, the highest revaluation among Ibex companies in this period and also the highest among European banks.”

The president of Sabadell has devoted a number of compliments to González-Bueno: “He has been an exceptional CEO, with an unusual ability to execute. Furthermore, he has always put the interests of the bank ahead of his own.”

The Catalan financial institution plans to current its outcomes for the 2025 monetary yr this Friday. It will probably be at its company headquarters in Sant Cugat del Vallès (Barcelona), in an occasion the place González-Bueno is anticipated.

The nonetheless CEO of Sabadell had a wage of three.3 million euros per yr, in response to the most recent recognized knowledge, and akin to 2024. In that yr, president Josep Oliu pocketed 1.9 million. In May 2024, BBVA launched a hostile takeover bid on Banco Sabadell, which for months had González-Bueno and Oliu battling towards the assaults of the entity led by Carlos Torres.

“I am enormously grateful for the privilege of having been able to participate in these five years, which have been exceptional,” stated González-Bueno, in a word revealed by the Catalan financial institution. “We have closed an exciting and successful cycle, and it is in this context that we must plant the seeds of the future, taking advantage of the extraordinary opportunities for transformation that a new leap in technology provides,” he added.

Marc Armengol would be the chief government of Banco Sabadell, anticipated to start in May, as soon as the Shareholders’ Meeting has been held and the required authorizations have been acquired from the European Central Bank.

The board of administrators of Sabadell has appointed Carlos Ventura as basic director of enterprise in Spain. He provides private banking to the duties he carried out in enterprise, community and personal banking, along with becoming a member of the financial institution’s highest governing physique as government director.

The Vallesan entity highlights that in Ventura’s administration stage: “Banco Sabadell has maintained and reinforced its leadership in the business segment, has grown the private banking segment with a new business model, and has carried out the transformation of the commercial network, assuming modernization and digitalization processes, and reinforcing the quality of customer service.”