Banco Sabadell is ending one of the most brilliant cycles in its recent history with the replacement of César González-Bueno as CEO, who will be succeeded by Marc Armengol. Since his official appointment in March 2021, González-Bueno has managed to place the Catalan bank at its highest levels, both in terms of results and stock valuation.
His tenure will be remembered for successfully thwarting the hostile takeover attempt by BBVA, the first such hostile bid in Spanish banking in four decades. Beyond the corporate defense, under his leadership, Sabadell's profits went from near zero to almost 2 billion euros.
“"We overcame a difficult situation; from now on, the goal is to grow more, which is still possible."
The financial impact is undeniable: the bank's shares have appreciated by 660% since his appointment, pushing market capitalization above 17 billion euros. This performance significantly surpasses that of its Ibex 35 competitors, highlighting Sabadell's ability to capitalize on the shift in interest rate cycles.
González-Bueno arrived in a very delicate context, immediately following the failure of a friendly merger with BBVA and amidst the uncertainty of the pandemic. His initial strategic plan (2021-2023) focused on consolidating leadership in business banking and optimizing retail operations, even managing to make the British subsidiary TSB productive.
As a golden finale, the executive leaves behind a new strategic plan (2025-2027) that includes a total shareholder remuneration of 6.4 billion euros. The defense of the bank's independence, supported by the leadership team and the Catalan socioeconomic landscape, culminated in the rejection of the OPA by the majority of shareholders.
