The chief executive of BBVA Compass, Onur Genç, has been named head of its global parent in Spain.
Banco Bilbao Vizcaya Argentaria's board approved the promotion of its top U.S. executive on Wednesday; he is set to start his new job Dec. 31.
With the move, BBVA closed the loop on its global CEO succession plan. Genç will succeed Carlos Torres Vila, who in September was pegged to take over as chairman from Francisco Gonzalez when Gonzalez retires on New Year's Eve.
Genç’s successor in the U.S. has not yet been announced. Genç will continue to supervise the U.S. operations until then.
Genç joined Garanti Bank, a BBVA-owned bank in Turkey, in 2012 as executive vice president for retail banking. In 2015 he was named deputy CEO of the Turkish lender assuming wholesale banking responsibilities as well. He made a name for himself by increasing digital innovation and sales.
In January 2017, Genç became CEO of BBVA Compass and country manager for BBVA U.S.
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He has emphasized digital sales of products such as credit cards and loans through the BBVA Compass mobile banking app and through Simple, the neobank owned by BBVA. He has also worked on improving efficiency in the back office and branches by redesigning processes.
BBVA has been undergoing a digital transformation for several years. Digital sales now account for 40% of total sales worldwide compared with 15.3% two years ago, and digital customers stand at 26 million, the company said in its press release Wednesday announcing the promotion of Genç.
Before the end of the year, BBVA’s goal is to have half of its clients banking through digital channels.
