BBVA overhauls executive team with new Mexico head and CFO as it pivots to artificial intelligence

Sweeping executive reshuffle

BBVA announced on Wednesday a far-reaching overhaul of its top management, with 10 major changes including seven new appointments, the elimination of two divisions and the creation of one new area. Eight executives leave their current roles, while two others shift positions. The reshuffle touches every major market, from Mexico and Colombia to the central functions in Madrid. President Carlos Torres and CEO Onur Genç filled every vacancy from within the bank, promoting a generation of executives who had been operating in second-line roles. The bank communicated the changes to Spain's CNMV and framed the moves as a response to the growing impact of artificial intelligence on the industry.

BBVA has approved a renewal of its leadership team to drive transformation in an environment marked by the profound impact that artificial intelligence will have on the business, on the way of working and especially on the experience the bank offers to customers. All new leaders come from within the group, configuring a renewed leadership that combines broad experience in transformation, innovation and customer orientation.

Mexico and finance leadership replaced

The two most prominent changes affect the group's largest profit centre and its finance function. Mexico has long been BBVA's earnings engine, contributing 44.1% of group profit in the first quarter of 2026, far exceeding Spain's share. José Luis Elechiguerra, until now global head of risk management, becomes country manager for Mexico, replacing Eduardo Osuna. Osuna moves to the chairmanship of BBVA México's board. Gonzalo Rodríguez, previously head of retail banking in Spain, succeeds Luisa Gómez Bravo as group CFO. Gómez Bravo had held the post for three years and was a regular presence alongside Genç at results presentations.

New units and risk integration

The bank dissolved its Regulation & Internal Control division and created a global Institutional Engagement unit, to be led by Mario Pardo, formerly country manager for Colombia. The new area will oversee regulatory affairs, supervisor relations, institutional relations and BBVA Research. Compliance and non-financial risk functions are absorbed into Global Risk Management under Rocío Pérez, who becomes global head of compliance and internal control. Pablo Pastor, previously risk head for South America and Turkey, takes over as global head of GRM, succeeding Elechiguerra.

Efficiency and AI ambitions

BBVA closed the first quarter with an efficiency ratio of 38%, already among the best in the eurozone, and is targeting 35% by the end of its 2025–2029 strategic plan. Torres and Genç want to use the reshuffle to deepen the application of artificial intelligence and exploit cross-business knowledge to keep lowering costs relative to income. The bank stressed that the new team's cross-functional experience would help accelerate the adoption of AI across operations and customer channels.

South America reporting streamlined

Argentina, Colombia and Peru now report directly to CEO Onur Genç, simplifying the previous oversight model. Gloria Couceiro, previously global head of financial planning and cost management, replaces Pardo as country manager for Colombia. Jorge Bledel stays on as head of Argentina and Fernando Eguiluz remains in Peru. Other South American markets also move to direct CEO reporting.

Further leadership changes

Victoria del Castillo, formerly head of strategy and M&A, takes over talent and culture from Paul Tobin. Roberto Albaladejo, previously responsible for large corporate clients and sustainability, succeeds her in strategy and M&A. Jacobo de Nicolás, from BBVA México's legal services, becomes group legal head, replacing María Jesús Arribas. Rosario Mirat, from the presidency cabinet, is named secretary general, succeeding Domingo Armengol.

The overhaul arrives nine months after BBVA's failed takeover bid for Banco Sabadell. The bank said the reorganisation was not a consequence of that outcome and would likely have occurred even if the Catalan lender had been integrated. Two figures closely associated with the bid, Tobin and Gómez Bravo, lose executive functions, while others such as Peio Belausteguigoitia, head of BBVA Spain, retain their roles.