For Spain’s Banco de Sabadell, the Covid-19 pandemic has meant pause for thought. Despite maintaining fourth position in the The Banker's Spanish bank ranking in terms of assets, the Catalonia-based lender decided to carry out a management shake-up in March 2021. The highlight of the executive board reorganisation was the appointment of César González-Bueno, who brought digital banking to Spain, as the bank’s new CEO.
José María Roldán, chairman of the Spanish Banking Association (AEB), considers digital technology a crucial business segment in an environment of declining interest rates and squeezed margins. “It is the key to reducing costs and recovering acceptable profitability levels,” he says. This opinion is echoed by the market, which hailed the arrival of Mr González-Bueno as one of the best-placed bankers in Spain to expand and accelerate Sabadell’s digital operations. “The onboarding of Mr González-Bueno as the new CEO should contribute to Sabadell’s digital strategy in the retail business, benefiting from his previous experience in this field at ING Direct Spain,” says Fernando Sánchez, associate director at Fitch Ratings.
