Sabadell plans to continue growing in the UK despite Brexit and the sale of TSB

Banco Sabadell is not afraid of Brexit He wants to continue to grow in corporate banking and invest in United kingdom Through its own brand. This was indicated by the new president of Sabadell Corporate & Investmen Banking in London, Marcus Colomer, speaks to Fuzzboli.

The Catalan entity intends to reinforce its brand within English country In parallel with Potential sale of TSB. “Every business goes its own way in the UK and that will remain the case,” the banker said.

Currently, Colomer is focused on increasing the operations that Banco Sabadell has been doing in the UK and also in Northern Europe and Ireland, since then. The London office acts as a link between these countries and Spain.

This offer relates to an internally executed transaction in the bank and a replacement Carlos Francis, Who is leaving the position to start a new phase in the international business team Dubai.

Colomer has over five years experience in corporate banking within Sabadell And with fifteen other professional career development in BBVAWhere he worked for the last three years from the United Kingdom.

Wind changes

Sabadell Bank It is now in the process of restructuring with the aim of its new strategic plan, which it intends to carry out on its own and give its shareholders the greatest possible benefit. In fact, on Monday, the entity announced the change of CFO with the arrival of Leopoldo Alvear (Bankia), who will replace Thomas Varela, a historic home.

This is not the only change. Several weeks ago it was announced that Jaime Guardiola would leave the bank and instead Cesar Gonzalez Bueno (ING) would enter the CEO position. At a press conference, Josep Olio He explained that these changes also respond to the rejuvenation strategy of senior management.

Regarding TSBThe Catalan entity still believes that the best option is to sell. “At the moment, you see that he may have more value in the future outside the bank than in the bank.”, The banker admitted. Although this time he was more flexible with regard to the future of the Bank of England, as it began to give positive results.

However, he insisted that at this time, without making any concrete decision, TSB should Continue to complete its strategic plan for value creation, which will accelerate in the coming months.