BBVA is strengthening its business in Brazil as part of its strategic proposal to be the leading regional bank in Latin America, its sustainability strategy and the cross-border service it offers its large corporate and institutional clients.
The bank is also looking to put a special focus on institutional clients who require more sophisticated products, leveraging the booking capabilities available in its global financial centers, such as New York, London and Hong Kong. This infrastructure allows us to offer added value to Brazilian clients operating in major international markets.
BBVA Brazil currently has a team of 40 people, including bankers and specialists in key areas such as finance, risk and legal, led by a Management Committee composed mainly of local profiles with extensive knowledge of the Brazilian market. Among the most important new appointments are Rodrigo Fittipaldi, Head of FIG Client Coverage; Andre Ferrari, Head of Corporate Clients and Sustainability; Tiago Bento, Chief Financial Officer; and Jorge Bolla, Head of Engineering.
Javier Rodríguez Soler has been heading up BBVA’s global Sustainability area since 2021 and in July 2023 he was also named global head of Corporate & Investment Banking (CIB), the wholesale banking area that serves the biggest clients (corporations, institutions, and the like). Combining growth and sustainability is one of its mantras. According to Javier, it is possible to grow and decarbonize at the same time, and BBVA is living proof of this. More precisely, he believes that “sectoral specialization is key to successfully managing decarbonization while supporting our clients.”
This team already serves more than 50 clients and has participated in major transactions such as the bond issues of Nexa, LD Celulose and Eletrobras or the financing of Randon and Embraer. BBVA will continue to strengthen its team in Brazil in line with its business ambition and commitment to growth in the region.
Growth strategy and customer focus
BBVA’s strategy in Brazil is based on its global capabilities, its in-depth knowledge of the Latin American market and its focus on sustainability and innovation. The bank has opted for organic growth, focusing on the wholesale segment, where it will compete with other international banks. These capabilities, combined with its geographic reach, allow it to offer its clients a local and regional service of excellence and high added value.
Agustina Ramirez, Head of BBVA CIB Brazil, explained: “The Brazilian market offers extraordinary potential for the development of financial solutions that not only promote sustainability but also meet the diverse needs of our clients. At BBVA, we want to accompany the country’s leading companies as they grow, helping them both to transition to a more sustainable future and to implement financial strategies adapted to their most immediate challenges. Our combination of global experience and local market knowledge allows us to offer a close and comprehensive service, focused on creating value at every stage.”
BBVA expects to deploy its first local capabilities in the first half of 2025. The initial offering will focus on global markets and trade finance products, with a gradual expansion plan through 2028, including structured finance and transaction banking services.
Brazil, a strategic market in Latin America
BBVA has a strong and relevant presence in Latin America, which puts it in a unique position to help companies maximize opportunities in international trade corridors, especially with Asia and Europe. With a clear ambition to be the best partner for cross-border business and consolidate its leadership as “Latam House of Choice”, BBVA is relying on its global reach, its expert teams and its organic growth strategy in Brazil, focused on the wholesale business.
The Brazilian market accounts for 50% of South America’s wholesale revenue pools, with around 250 companies generating annual revenues of more than one billion US dollars. Eighty percent of BBVA’s most important corporate clients are already present in Brazil, which represents an opportunity to expand the entity’s offering.
BBVA, a benchmark in sustainability
Sustainability is one of BBVA’s strategic pillars, and Brazil is positioned as a key player in this area. The country accounts for 15% of global carbon capture opportunities through natural climate solutions, consolidating its position as a world leader in this area. With a government committed to sustainable investment, Brazil is an essential part of BBVA’s strategy to lead the development of sustainable financial solutions.
Javier Rodríguez Soler, Head of Sustainability and CIB at BBVA, highlighted: “Brazil is central to our strategy in Latin America and a key player in the transition to a more sustainable future. With our organic approach and global capabilities, we are poised to lead the development of sustainable financial solutions in the region.”
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Publish date : 2024-10-21 18:07:00
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