BBVA reinforces debt advisory service and names managers

11 October 2017 - 12:00 am UTC

BBVA set plans to launch a business unit to boost its advisory business and named new managers.

The Spanish bank said its new advisory solutions area will emphasize origination activity to seal more mandates from clients. A head for this new unit will be named in the following weeks, a spokesperson said.

Among the personnel changes at the firm, BBVA named Borja Sáez de Montagut as global head of energy project finance, reporting to Ángel Arévalo, global head of project finance at BBVA. Sáez replaces Gonzalo Ruiz, who joined ING as director and deal principal of the utilities and power team earlier this year. Previously, Sáez worked as head of project finance EMEA & Asia for BBVA.

The new leader for project finance EMEA & Asia at BBVA is Luis Miguel Palancar, former head of project finance Iberia, covering the Iberian Peninsula. Palancar reports to Arévalo on project finance activity and geographically to Mari Luz Campo and Horacio Martínez.

Additionally, Pablo González Taberna was promoted to the position of global head of infrastructure and asset finance. He replaces Mikel Peña, who will now take over as head of project finance for the Americas. Taberna reports geographically to Oscar Álvarez de la Reguera and to Arévalo for project finance matters.  Peña replaces Miguel Ángel Fernandez, who remains on the bank’s portfolio management team.

Overall, BBVA had been working to adapt to a new regulatory environment, as well as financial markets changes such as the increasing role of institutional investors as direct lenders in infrastructure projects.

“BBVA is potentially one of the banks that is transforming itself ahead of the change,” Arévalo previously told Inframation. “We want to be a provider of tailor-made financial solutions to our clients, rather than only a lender in a given transaction.”

Among its recent transactions, BBVA supported Enel in the sale of Mexican renewable assets worth USD 1.35bn.

In Colombia, it is advising the SPV behind the Bucaramanga-Barrancabermeja-Yondó highway to raise an approximately COP 1.8trn (USD 611m) non-recourse loan to fund the construction of the road.