One of the world’s most innovative, fintech-friendly banks just onboarded a new boss.
BBVA announced this week that U.S. subsidiary BBVA Compass has named former Garanti Bank deputy CEO, Onur Genç, as its new CEO. At Garanti, Turkey’s largest bank by market cap at $9 billion, Genç (pictured) was in charge of retail banking, private banking, and asset management. He was promoted to deputy CEO at Garanti in 2015. “I am thrilled to have this opportunity,” Genç said in a press release. “I can’t wait to join the team and to work with Manolo to extend the success story of BBVA Compass.” Genç will replace Manolo Sanchez, who became CEO of BBVA Compass in 2008 and will transition into a new role of non-executive chairman.
“BBVA is a global financial group that can tap the world’s best talent, and Onur is a clear example of that. I am looking forward to helping him take BBVA Compass to the next level,” Sanchez said.
Prior to his tenure at BBVA Compass, Onur Genç was a senior partner and Turkey office manager at McKinsey & Company. Before McKinsey & Company, Genç was a financial controller at American Airlines. He has a bachelor of science degree in electrical and electronic engineering from Bogaziçi University in Istanbul, and an MBA from Carnegie Mellon University in Pittsburgh, Pennsylvania.
Founded in 1857 and headquartered in Madrid, Spain, BBVA—Banco Bilbao Vizcaya Argentaria—demonstrated its stock market sentiment solution, Stockbuzz, at FinovateEurope 2013. The second largest bank in Spain and a member of the Euro Stoxx 50 stock market index, BBVA held assets of more than €750 billion in 2015. Carlos Torres Vila is CEO.
BBVA Compass was founded in 1964 and has been a BBVA subsidiary since 2007. With assets of $85 billion, the firm is headquartered in Birmingham, Alabama, and is active in Arizona, California, Colorado, Florida, New Mexico, and Texas.