Changes at BBVA’s Management Committee: Juan Asua will be head of CIB and Jaime Saenz de Tejada will lead Spain & Portugal

Top Quote BBVA is ensuring continuity of its management model following the appointment of Juan Asua as the new head of Corporate & Investment Banking (CIB) and Jaime Saenz de Tejada as the new head of Spain & Portugal and a member of the management committee. End Quote
  • (1888PressRelease) May 17, 2012 - Mr. Barreiro, who until now was in charge of the group’s wholesale banking businesses (CIB), has decided to step down for personal reasons and will also give up his seat on the bank’s management committee. He will remain linked to BBVA as a consultant, adviser and representative.

    Mr. Barreiro leaves the CIB division as a business unit that employs more than 4,000 people and that generated net income of €1.12 billion in 2011. The unit is a significant contributor to the Group’s development in its role as a strategic supplier of products for other networks.

    BBVA president and chief operating officer Angel Cano said he saw Mr. Barreiro’s work as “essential” in understanding the Group’s development. He also pointed to Juan AsUa’s vision and performance during the last five years as head of the Spanish business. Mr. AsUa is replacing Mr. Barreiro as CIB head.

    Mr. Cano highlighted the importance of Mr. AsUa’s management in Spain during the most important moments of the crisis. He said, “Both Juan AsUa and Jaime Saenz de Tejada did an excellent job at a very critical time. Having both on the management committee will guarantee the quality and continuity of the management model."

    Juan AsUa (49) has been head of Spain & Portugal for the last five years. Prior to that, he was head of global corporate banking and capital markets. Earlier still he was in charge of corporate & business banking and a member of the management committee since 2006. He takes over as head of Corporate & Investment Banking.

    Jaime Saenz de Tejada (44) was until now head of business development for Spain & Portugal. Prior to that he was a regional manager in Spain, head of BBVA Banco Continental in Peru, manager of BBVA’s New York branch and manager of corporate and investment banking in the Americas as well as other appointments. He now takes over as head of Spain & Portugal and will join BBVA’s management committee.

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    About BBVA

    BBVA is a customer-centric global financial services group founded in 1857. The Group has a solid position in Spain, it is the largest financial institution in Mexico and it has leading franchises in South America and the Sunbelt Region of the United States. Its diversified business is biased to high-growth markets and it relies on technology as a key sustainable competitive advantage. BBVA ranks among the leading euro zone banks in terms of ROE and efficiency. Corporate responsibility is at the core of its business model. BBVA fosters financial education and inclusion, and supports scientific research and culture. It operates with the highest integrity, a long-term vision and applies the best practices. The Group is present in the main sustainability indexes.

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