Armengol takes the helm at a favorable time for the bank, which saw its share value multiply significantly under González-Bueno's leadership. His appointment follows the successful resistance against the hostile takeover bid launched by BBVA last year, an effort where the outgoing CEO played a decisive role.
A graduate in Business Administration from Universitat Pompeu Fabra (UPF), Armengol joined Sabadell in 2002. His career is defined by his specialization in technology, having completed a Master's in Information Technology (IT) at the prestigious Universiteit van Ámsterdam.
“"Armengol's technological expertise defines him as the best possible candidate for this challenge."
Before his current role, Armengol was instrumental in stabilizing the bank's troubled UK subsidiary, TSB. He moved to the UK in 2018 to fix a major technological migration failure, successfully restoring regulatory and market confidence. The subsequent sale of TSB to Banco Santander for 2.65 billion pounds was a key factor in derailing the BBVA bid.
Chairman Josep Oliu has tasked the new CEO with maintaining strong capital generation rates to ensure shareholder dividends through 2027. Furthermore, Armengol is expected to drive the bank's technological disruption strategy, emphasizing “the possibilities of data and technology to offer the best solutions and the best service.”
