BBVA has appointed Juan Blasco as the new head of its Global Credit Markets business, replacing Regina Gil, who has recently been appointed head of BBVA CIB USA, as reported by the entity on Monday.

Blasco, who previously led different teams in the Global Credit Market value chain, will be in charge of reinforcing BBVA’s Credit business strategy.

Said strategy, explained the bank, will be articulated around three axes: strengthening existing capacities in developed markets; expand the offer of emerging markets with products from new markets; and develop a new area of ​​tailor-made credit solutions for its clients (Credit Solutions), together with the Investment Banking unit

Regarding the first axis, BBVA has strengthened its geographical and sectoral coverage under the leadership of Reyes Bover, head of European Credit Markets, by incorporating new teams dedicated to the bond origination business for Financial Institutions (FIG) for to customers in the UK and France, Benelux, Germany and the Nordic countries. In parallel, it has also strengthened its team to boost its activity in southern Europe (Spain, Italy and Portugal), where it already has 15 professionals.

The second axis, referring to the expansion of the product offer in emerging markets, BBVA has proposed to offer a complete range of Credit Market products covering both Latin America and the Middle East and Central Europe. For this, Olçay Yagci has joined the bank, as head of origination for Central Europe and the Middle East, as well as Khalid Rizwan Rosy, as ‘trader’ of emerging markets for the region.

Lastly, in order to provide a better range of products and services, BBVA has announced the launch of a new area of ​​credit solutions and balance sheet management.

This area, the result of collaboration with the Investment Banking unit

To lead this latest project, the bank has brought in Chris Oduneye, who was previously Global Head of Credit Solutions at Commerzbank, where he also held the role of Head of Emerging Markets Credit Trading. He previously worked in different roles related to Capital Markets at BNP Paribas and Lehman Brothers.