New BBVA Compass CEO Onur Genç Offers First Impressions of Bank's Opportunities in U.S.

Staff Report

Wednesday, March 1st, 2017

New BBVA Compass CEO Onur Genç offered his first extended public comments Wednesday since his appointment to the bank's top office, appearing via video on bbva.com with BBVA Group CEO Carlos Torres to talk about their impressions of the U.S. banking landscape and the opportunities for BBVA Compass.

BBVA Compass is a critical part of the Spain-based BBVA Group's properties. Its contribution to the BBVA Group's net attributable profit across all lines of business in 2016 was 11 percent, Torres said in comments posted on bbva.com.

"The U.S. continues to be a key market for the group, both because of its attractiveness and very healthy margins," Torres said. "It is also very digital. It's one of the societies where consumers have embraced digital the most and that is a huge opportunity for a bank like us, which has put digital in the forefront of our strategy."

Genç talked about BBVA Compass' immediate priorities, including leveraging the bank's digital capabilities to boost consumer lending across the board. He also noted the other tools and products that will figure prominently on the bank's road ahead, including the award-winning BBVA Compass Mobile Banking app and the Signature Express consumer loan, which helps clients stay in control of their financial journeys by providing quick access to funds with no application fee, no collateral requirements and competitive low rates.

Ultimately, Genç said his vision for BBVA Compass is across-the-board exceptionalness.

"We are people serving people, either as a final end customer, as a consumer, or as a decision-maker," he said. "Let's be the bank that offers the best service in person and in digital channels. We are in a growing and attractive market in the U.S., and we have a strong franchise to build upon to tap into this attractive market."

To watch the video or read the transcript, go to bbva.com.

Genç was named CEO in December 2016. He previously served as deputy CEO of Garanti Bank, Turkey's largest bank by market capitalization ($9 billion). Genç led Garanti's retail banking, private banking, payment systems, asset management efforts, financial institutions and correspondent banking, among other responsibilities. BBVA is Garanti's largest shareholder with a 49.85 percent stake.

Prior to Garanti, Genç was a senior partner and Turkey office manager at McKinsey & Company. He became partner in 2004, rising to senior partner and Turkey Office Manager in 2009 at age 34. Genç started out his career in 1997 as a financial controller for American Airlines in Dallas, Texas.