BBVA's chairman and chief operating officer, Francisco Gonzalez and Jose Ignacio Goirigolzarri, have presented a reorganized management structure in line with the bank's current strategy to transform into a global services group.
The company has three main objectives under its growth plan. The first is to get closer to customers through transformation and innovation. The second is to facilitate the creation of business units that are more capable of operating and taking decisions in an autonomous manner, which will be responsible for the growth strategy. The third is to create a management structure that allows every unit to maximize the advantages of being part of a global group.
Under the proposed new structure, the group will retain three unit types, business units, support units and the chairman’s office. Changes to the group’s business areas will mainly affect retail banking in Spain and Portugal, and its wholesale businesses. The new area will include SME and corporate banking, as well as retail banking, creating a large unit handling all business.
In a pioneering move, BBVA will form a top level innovation committee to drive the group’s innovation and transformation strategy. The adaptation of the risk area to match the new, more global configuration of the group will also be implemented.
We will adapt our methods of management and data-mining of customers, studying trends and behavior, because what distinguishes a modern company with global ambitions is its ability to listen. And this is, above all, a launching pad for innovation, said Mr Goirigolzarri.