Banco Sabadell has appointed Marc Armengol as the new CEO of its British subsidiary, TSB, following Robin Bulloch's announcement of his retirement. Armengol, who currently serves as the Director of Operations and Technology, will be succeeded by Elena Carrera, the bank's Director of Sustainability and Efficiency. The appointment is pending regulatory approvals and is expected to take effect in early 2025, which will also result in Armengol's departure from Sabadell's management committee.
This leadership change at TSB coincides with a hostile takeover bid from BBVA, which has received approval from Brussels to proceed with the acquisition.
Marc Armengol holds a degree in Business Administration from Pompeu Fabra University in Barcelona and a specialization in Information Technology from the University of Amsterdam. He joined Sabadell in 2002 and has played a crucial role in various operational and technological areas, significantly contributing to the bank's integration efforts following multiple acquisitions. He later moved to the U.S., where he led operations for America and the International Network, overseeing the acquisition of entities in the American market and the establishment of Sabadell's banking subsidiary in Mexico.
Armengol has been part of TSB's board since 2022 and previously served as TSB's Corporate Strategy Director from 2018 to 2021. He was appointed Director of Operations and Technology in 2021 and is a member of the management committee.
Elena Carrera joined Banco Sabadell in 2015 as Director at Sabadell Consulting. She was later appointed Global Organization and Corporate Projects Director, leading the bank's transformation processes. In July 2021, she took over as Director of Efficiency and Corporate Projects before becoming the Director of Sustainability and Efficiency.
The responsibilities previously held by Carrera will be divided among two current members of the management committee. Sonia Quibus, General Director of People, will add Sustainability to her role, which will be renamed the Directorate of People and Sustainability. Marc Prat, General Director of Strategy, will take on the Efficiency Directorate, which will now be known as the Directorate of Strategy and Efficiency.