HOUSTON, Jan. 23, 2015 /PRNewswire/ -- BBVA Compass announced today it has named Hector Chacon the bank's Texas border region CEO in a move aimed at fostering deeper ties to clients and communities in the region that stretches more than 800 miles from El Paso to Brownsville.
Chacon will lead the bank's efforts to further tap into opportunities in the region, which has been important to BBVA since the global financial services firm entered the U.S. market with its acquisition of Laredo-based Laredo National Bancshares in 2004. BBVA Compass, BBVA's U.S. franchise, now has a leading market share position in the upper and lower Rio Grande Valley, El Paso and Laredo.
Chacon's new role is part of the bank's broader reorganization, which was announced in November and combines BBVA Compass' lines of business — Retail, Wealth Management and Commercial — into one unit. The new Consumer and Commercial Bank is designed to provide more comprehensive customer service while increasing productivity and revenues, and its emphasis on local market leadership builds greater accountability in meeting community needs.
"Hector knows the region and he knows Mexico and that makes him an excellent choice to lead our efforts in the border cities, which have different needs and demands than customers in larger metro cities," said BBVA Compass Chief Operating Officer Rafael Bustillo, who leads the Consumer and Commercial Bank. "He has the expertise to help our clients in this growing region."
International trucking and trade are significant drivers of the economy in the area, while the recent opening of Mexico's energy sector promises to create more economic growth. Chacon has led a team that has worked closely with the region's primarily Hispanic population as well as with top energy executives.
Chacon joined Bancomer, BBVA's subsidiary in Mexico, in 1986, and its U.S. operations in 1997. Most recently, he led BBVA Compass' International Wealth Management unit. He's also worked for BBVA subsidiaries in Mexico City, Miami and Houston. He graduated from the Instituto Tecnologico Autonomo de Mexico (ITAM) and holds a master's from the Instituto Panamericano de Alta Direccion de Empresas (IPADE) in Mexico City.
About BBVA Group
BBVA Compass is a subsidiary of BBVA Compass Bancshares Inc., a wholly owned subsidiary of BBVA (NYSE: BBVA) (MAD: BBVA). BBVA is a customer-centric global financial services group founded in 1857. The Group has a solid position in Spain, is the largest financial institution in Mexico and has leading franchises in South America and the Sunbelt region of the United States. Its diversified business is geared toward high-growth markets and relies on technology as a key sustainable competitive advantage. Corporate responsibility is at the core of its business model. BBVA fosters financial education and inclusion, and supports scientific research and culture. It operates with the highest integrity, a long-term vision and applies the best practices. The Group is present in the main sustainability indexes. More information about the BBVA Group can be found at www.bbva.com.
About BBVA Compass
BBVA Compass is a Sunbelt-based financial institution that operates 673 branches, including 342 in Texas, 89 in Alabama, 77 in Arizona, 62 in California, 45 in Florida, 38 in Colorado and 20 in New Mexico, and commercial and private client offices throughout the U.S. BBVA Compass ranks among the top 25 largest U.S. commercial banks based on deposit market share and ranks among the largest banks in Alabama (2nd), Texas (4th) and Arizona (5th). BBVA Compass has been recognized as one of the leading small business lenders by the Small Business Administration and recently earned the top ranking with customers in American Banker's 2014 annual reputation survey of the top 25 largest U.S. retail banks. Additional information about BBVA Compass can be found at www.bbvacompass.com, by following @BBVACompassNews on Twitter or visiting newsroom.bbvacompass.com.
BBVA Compass is a trade name of Compass Bank.
SOURCE BBVA Compass