HOUSTON, Dec. 15 /PRNewswire-FirstCall/ -- BBVA Compass announced that effective December 14, 2009, its wholly owned subsidiary, Stavis, Margolis Advisory Services, Inc., changed its name to BBVA Wealth Solutions. BBVA Compass acquired the registered investment advisory firm in 2005. The rebranding to BBVA Wealth Solutions not only reflects the firm's relationship with BBVA Compass and the BBVA Group, but also signifies the stability, innovation and customer focus that being part of a 150 year-old, worldwide financial services group provides.
"This name change further aligns the BBVA Compass franchise while bringing a highly recognized, global brand to the financial planning arm of our company," said Manolo Sanchez, BBVA Compass president and chief executive officer. "Their focus on providing sound financial advice and responsive service to their clients meshes perfectly with BBVA Compass' customer-centric business model."
"Bringing BBVA into our name is a natural step in our evolution," said Rick Terry, BBVA Wealth Solutions chief executive officer. "It is important for our clients to know that we have the financial strength of a worldwide company behind us, enabling us to offer local expertise coupled with global capabilities. At the same time, our overall strategy is to continue to focus on the importance of providing sound financial and investment advice to our clients and the enhancement of our culture of responsiveness to their needs."
Founded in 1996, Stavis, Margolis Advisory Services, Inc. is one of the most respected financial planning and investment advisory firms in Houston. Dedicated to offering proven investment strategies to meet the desired objectives of their clients, the financial advisors of Stavis, Margolis are tasked with being knowledgeable about investment, retirement, estate planning and business succession planning. The advisors of Stavis, Margolis have a thorough understanding of the various products and services available to their clients, which strengthens their ability to offer clients the most sophisticated advice, tailored to provide a customized solution to each unique financial situation.
ABOUT BBVA COMPASS
BBVA Compass is a Sunbelt-based financial institution that operates 748 branches including 410 in Texas, 92 in Alabama, 66 in California, 77 in Arizona, 45 in Florida, 36 in Colorado and 22 in New Mexico. BBVA Compass is the 15th largest U.S. commercial bank based on deposit market share and ranks among the largest banks in Texas (4th), Alabama (3rd) and Arizona (5th). Additional information concerning BBVA Compass can be found on our website at www.bbvacompass.com.
BBVA Compass is a subsidiary of Compass Bancshares, Inc., a wholly owned subsidiary of BBVA (NYSE: BBVA) (MAD: BBVA). BBVA is a financial services group with more than $785 billion in total assets, 48 million clients, 7,600 branches and approximately 105,000 employees in more than 30 countries. BBVA ranks among the top seven largest financial institutions in the world based on market capitalization and 20th in Global Finance magazine's list of the "World's 50 Safest Banks" for 2009. BBVA provides its customers around the world with a full range of financial services, including commercial and wholesale banking, retail banking services, consumer loans, mortgages, credit cards, securities brokerage, wealth management, pension plan management and insurance. The BBVA Group maintains a leadership position in Spain, Mexico, Latin America and the Sunbelt Region of the United States as well as operations in China, France, Germany, Hong Kong, Italy, Japan, Singapore, Switzerland, and the United Kingdom.
Editor's note: BBVA Compass is a trade name of Compass Bank and a trademark of Compass Bancshares, Inc.
SOURCE BBVA Compass