BBVA Compass plans to take a small first step into South Florida this spring, by opening a branch in Miami.
BBVA Compass, a subsidiary of Spain's $800 billion-asset Banco Bilbao Vizcaya Argentaria SA, announced its plans on Sunday at the United States Hispanic Chamber of Commerce convention's opening ceremony in Miami. The office will focus on commercial banking, and domestic and international wealth management.
BBVA Compass runs more than 712 branches in seven states, including 45 in Florida. Its existing Florida branches are in the northern part of the state.
Roberto R. Munoz, newly appointed BBVA Compass South Florida regional executive for commercial banking, will head the office. As a regional executive for BBVA Compass in South Florida, Munoz will focuses on increasing the bank's clientele of midsize and small businesses. A 30-year veteran of the banking industry, he most recently served as executive vice president and chief lending officer with Professional Bank in Coral Gables, Fla.
