BBVA restructures to achieve 'digital transformation'

BBVA restructures to achieve 'digital transformation'

BBVA has named digital banking head Carlos Torres Vila as president & COO and charged him with responsibility for leading a fresh management team for which technology transformation is identified as the bank's "main strategic priority".

Torres Vila, who joined BBVA in 2008 as head of strategy & corporate development, and later was named as head of the newly-formed global Digital Banking unit, replaces incumbent president and COO Ángel Cano, who steered the bank through the global financial crisis.

Amid the disruption underway in banking, with new consumer demands, digital entrants and new business models, the bank has put in place a new centralised network and operations management structure in order to accelerate the digital transformation process globally, strengthening the efforts initiated at the Digital Banking area.

Alongside the appointment of Torres Vila, BBVA has also shaken up its management structure.

To achieve the "cultural change required to create a more flexible and agile organisation", the bank has appointed Donna DeAngelis, formerly of Publicis Group and Digitas to head up talent management. Mark Jamison, former chief digital officer of Capital One Bank, will lead the creation and promotion of global products and services, including global payments. Marketing and digital sales have been put in the hands of former Expedia man Javier Escobedo, while BBVA's Argentinian head Ricardo Moreno has been named as head of software development and tech operations.

Teppo Paavola continues as head of the area responsible for investing and launching new digital businesses, including BBVA Ventures, as well as promoting the collaboration with the ecosystem of startups and developers. Before joining BBVA, Paavola was head of development of global businesses and M&A at PayPal.

BBVA chairman Francisco González says of the shake-up: “Based on the three pillars of the group - principles, people and innovation - and with this new phase that starts today, BBVA takes a significant step forward in its ambition to become the best universal bank of the digital age."

Comments: (1)

Luckmore Chitima
Luckmore Chitima - Ethics Consultancy - Harare 06 May, 2015, 08:40Be the first to give this comment the thumbs up 0 likes

this is brilliant, i think 'Digital Transformation" is inevitable for any institution in order to manage cost, other resources and covering a wider market efficiently. from a benchmarking perspective look the success of wattsapp .. the whole world uses the application .... absolutely incredible! BBVA will soon conquer the world!