Departure of César González-Bueno from Banco Sabadell after BBVA’s failed takeover bid and the idea of new transformation and development of the Catalan bank. The Board of Directors of Banco Sabadell held a meeting today in which he left, according to the statement sent to the CNMV by mutual agreement.
His replacement as the new CEO of Banco Sabadell will be Marc Armengol, until now CEO of TSB before the resignation of González-Bueno. And it will be, predictably, starting in May, once the entity’s shareholders meeting is held and after receiving the expected approval from the European Central Bank.
The entity stands out that «the Council has valued the profound transformation of the bank promoted by Mr. César González-Bueno Mayer and the strong growth in results, which has been reflected in the evolution of Banco Sabadell’s share price. Furthermore, he wanted to record his gratitude to Mr. González-Bueno for his contribution to the creation of a young and talented management team.»
They point out that «He has been an exceptional CEOwith an unusual ability to execute. Furthermore, he has always put the bank’s interests ahead of his own.»
For his part, González-Bueno has expressed his «enormous gratitude» for the «privilege» of having been able to participate in these five years in the management of the entity, which he described as «exceptional.»
«The team is excellent, it is cohesive and has positive and clear perspectives for the coming years. 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 stated.
César González-Bueno arrived at Banco Sabadell in December 2020 in addition to being a director of TSB since March 2020. And he has positioned himself, since the launch of BBVA’s failed takeover bid, as a highly combative CEO in defending the continuation of Banco Sabadell alone and is known in the sector for the strong transformation to which he has subjected the Catalan entity in the last five years.
Previously, he was Chairman of the Advisory Board of ING Spain and Portugal from 2017 to early 2020 and has held various executive positions, including CEO of ING Spain and Portugal from 2017 to 2019, CEO of Gulf Bank of Kuwait from 2014 to 2017 and CEO of Novagalicia Banco from 2011 to 2013. At Novagalicia, César led a broad and complex restructuring process and refloating, and was also responsible for the launch and sale of its subsidiary, EVO Banco.
For its part, Marc Armengol joined Banco Sabadell in 2002 and has extensive experience in different roles of responsibility in the areas of Technology, Operations and Strategy, always linked to transformation projects.
In his first stage at Banco Sabadell Spain, he directed different areas of Operations, Technology and the Organization function and, sAccording to the entity, it was a «key» profile in the integrations that transformed the entity after multiple bank acquisitions in the period that ended in 2014.
Later, he moved to the United States, where, with the role of COO of America & International Network of the entity, He led the purchase and sale and integration of entities in the American market, as well as the launch of the banking subsidiary of Banco Sabadell in Mexico.