Spanish bank BBVA will open the first South Florida commercial banking of its BBVA Compass Bank next spring at 1450 Brickell Avenue in Miami, the company announced (note: correction appended). The commercial bank’s U.S. arm has 712 branches mostly scattered throughout the sunbelt, including 45 locations in Northern Florida.
“South Florida plays to the considerable strengths of BBVA Compass and BBVA,” said Manolo Sanchez, BBVA Compass chief executive and U.S. country manager for BBVA, in a statement. “A Miami office bolsters the BBVA Compass Sunbelt footprint, while at the same time tapping attractive international synergies, especially given BBVA’s leading position in Mexico and its sizeable presence in Latin America.”
The company has tapped Roberto Munoz, formerly an executive vice president and chief lending officer at Professional Bank in Coral Gables, to lead the Miami office. — Adam Fusfeld