MIAMI, Sept. 19, 2011 /PRNewswire/ -- BBVA Compass will open its doors in South Florida, inaugurating a commercial banking office in the spring of 2012, and using the strategic locale to offer domestic and international wealth management services.
The Sunbelt bank, a wholly owned subsidiary of Spain's BBVA and among the 20 largest financial institutions in the U.S., made the announcement Sunday evening at the United States Hispanic Chamber of Commerce convention's opening ceremony.
"South Florida plays to the considerable strengths of BBVA Compass and BBVA," said Manolo Sanchez, BBVA Compass chief executive and U.S. country manager for BBVA. "A Miami office bolsters the BBVA Compass Sunbelt footprint, while at the same time tapping attractive international synergies, especially given BBVA's leading position in Mexico and its sizeable presence in Latin America."
Roberto R. Munoz, newly appointed BBVA Compass South Florida regional executive for commercial banking, will lead the office. "Roberto is the right person to guide our South Florida efforts," said Lee Smith, BBVA Compass eastern regional executive for commercial banking. "He has a great understanding of the Miami banking and finance landscape and an appreciation for our strategic focus on high-growth markets."
Munoz said BBVA Compass has leased space at 1450 Brickell Ave., in the heart of Miami's international business district. "We are putting together an experienced team that knows success," said Munoz. "We intend to be competitive from the start."
As regional executive for BBVA Compass in South Florida, Munoz is tasked with growing the bank's large-middle, middle and small-market commercial presence in South Florida and internationally. To do so, Munoz will draw on his 30 years of domestic and foreign banking experience, most recently as executive vice president and chief lending officer with Professional Bank in Coral Gables. Munoz also held similar positions in Florida with Fuji Bank, Israel Discount Bank and Regions.
Smith said BBVA Compass is planning a grand opening celebration next year when it moves into its Brickell Avenue location.
ABOUT BBVA COMPASS
BBVA Compass is a Sunbelt-based financial institution that operates more than 712 branches including 374 in Texas, 93 in Alabama, 78 in Arizona, 65 in California, 45 in Florida, 36 in Colorado and 21 in New Mexico. BBVA Compass ranks among the top 20 largest U.S. commercial banks based on deposit market share and ranks among the largest banks in Alabama (3rd), Texas (4th) and Arizona (5th). BBVA Compass has been recognized as one of the nation's leading Small Business Administration (SBA) lenders, earning 'Lender of the Year' honors in 2009 and 2010. Additional information concerning BBVA Compass can be found on our website www.bbvacompass.com.
BBVA Compass is a subsidiary of BBVA Compass Bancshares, Inc., a wholly owned subsidiary of BBVA (NYSE: BBVA) (MAD: BBVA). BBVA is a financial services group with approximately $800 billion in total assets, 48 million clients, 7,400 branches and approximately 110,000 employees in more than 30 countries. BBVA ranks among the top 20 largest financial institutions in the world based on market capitalization and 17th in Global Finance magazine's list of the "World's 50 Safest Banks" for 2011. BBVA provides its customers around the world with a full range of financial services, including commercial and wholesale banking, retail banking services, consumer loans, mortgages, credit cards, securities brokerage, wealth management, pension plan management and insurance. The BBVA Group maintains a leadership position in Spain, Mexico, Latin America and the Sunbelt Region of the United States, as well as operations in China, France, Germany, Hong Kong, Italy, Japan, Singapore, Switzerland, Turkey, and the United Kingdom. More information about the BBVA Group can be found at www.bbva.com.
SOURCE BBVA Compass