Banco Sabadell has chosen Marcos Colomer, house banker since September 2015 with extensive experience in corporate banking, as the new head of Sabadell Corporate & Investment Banking in London. An internal movement that occurs in full analysis of the new strategic plan that the entity plans to present in the first quarter and in which its business in the United Kingdom will be the protagonist.
As confirmed by sources from the entity, Colomer replaces Carlos Franqués in office, who will go on to work with Banco Sabadell’s international business team in Dubai.
“We will continue to cover companies in United Kingdom, Ireland and Northern Europe, providing financial services to companies and projects “, Colomer announces on his LinkedIn account, which reflects his experience in the corporate banking business after almost five and a half years working in this segment at Banco Sabadell, and after more than 15 years developing this type of project in BBVA.
Although it is only an internal movement of the bank, his arrival in office coincides with a moment in which, precisely, business business has become the focus of the entity chaired by Josep Oliu in the face of the new stage that will be led by César González-Bueno, new CEO of the entity to replace Jaume Guardiola.
Within this revolution in the entity, the United Kingdom is being analyzed with special attention, with all the rumors in the market pointing to the next sale of TSB, a subsidiary of the bank in the country. An operation for which Goldman Sachs It would already be testing out possible buyers, but whose success will depend on the final price and, above all, on the completion of its plan already underway to clean up.
Presence in the City
Sabadell’s presence in the United Kingdom would remain like this at its London corporate banking and investment unit, closely related, as has been commented, with that business segment that the bank wants to promote to continue its path alone, at least for the moment, after the failed merger attempt with BBVA.
Specifically, the bank’s corporate banking and investment business includes branches such as corporate financing, acquisition financing and m operations.iddle market (very focused on SMEs in the case of Spain), in addition to international financing.
This, together with the digitization of the segment retail, will mark the new roadmap of the entity, with the aim of improving in efficiency and profitability. Ratios greatly diminished throughout the sector due to the negative interest rate scenario, which are now being accentuated by the crisis. In the specific case of Sabadell, its profitability measured by ROE stood at 1.49% at the end of September, the latest data available, from 6.92% the previous year.