He will remain as president but will leave the management in the hands of the new CEO, César González-Bueno
The change in the direction of Banc Sabadell that the bank’s board must approve today will also affect the presidency of the entities. Josep Oliu will leave the executive functions of the entity once the replacement of the current CEO, Jaume Guardiola, by César González-Bueno, who will join the entity to take the reins of the new stages, after the failed attempt to the merger with BBVA. Oliu’s decision intends to follow the recommendations of the European Central Bank (ECB) in the sense that the presidency of the banks should not be executed, as confirmed by financial sources.
The current number two of the financial institution of Vallesan origin will opt for retirement and, therefore, for leaving the bank. Oliu, however, will remain in the entity as president, but will not have the executive functions that he had until now.
The changes are part of the new strategic plan that the bank intends to pursue alone as a result of the break with BBVA. At that time, Sabadell announced that it was concentrating on its digitization process, on SMEs and value customers, and on a new international strategy. González-Bueno already responds to the new required profile, while it is one of the pioneers of digital banking in Spain. His election is part of a process that is not improvised in two weeks, sources consulted point out, but it is also true that he is not unknown to Sabadell since he is currently a director of the British subsidiary TSB, which is in process sales, so is David Vegara, who combines this role with the executive director of Sabadell. Vegara will also have a more relevant role in the new bank led by González-Bueno.
