BBVA Compass forms partnership to expand its correspondent banking

BBVA Compass has announced a partnership with Brean Capital to provide capital and investment banking services to correspondent banks and community banks.

Citing “substantial opportunities” to reach community banks, the Birmingham, Ala.-based BBVA Compass said the collaboration would offer enhanced correspondent and investment banking, fixed-income trading, investment sales and derivative capabilities to financial institutions.

“BBVA Compass has a rich history in correspondent banking services, and we are delighted to continually innovate and develop strategies to better serve ... clients,” Bob Freeman, head of BBVA Compass’ financial institutions group, said in a press release Wednesday.

Based in New York, Brean Capital is a broker-dealer firm and will bring capital markets, sales and trading expertise to the partnership, while BBVA contributes its lending capabilities and its banking network.

In its announcement, BBVA described the partnership as “a cooperative agreement,” as opposed to a separate entity operating under a unique brand or name, and said the two organizations’ capabilities complemented each other well.

Rob Fine, Brean Capital's CEO, said in the release, “Our comprehensive investment banking, trading and sales platform provides outstanding service to a broad array of institutions, including those of varying size in the banking community, and aligns perfectly with BBVA Compass’s extensive correspondent banking relationships and their overall commercial banking expertise.”

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