Javier Rodríguez Soler, Director of Strategy and M&A, one of the areas which is gaining importance in the organisation plan of the bank in recent times. He will report directly to the President of the bank, Francisco González, and comes from McKinsey.
According to the latest publicised figures, the bank still holds more than 22,000 million in real estate exposure in Spain, one of the largest in the sector, for which it is hoped that Rodríguez Soler will stress the sale of funds portfolios and so accelerate the reduction of real estate balance, boosting the sale of large real estate packages across the wholesale markets to large international funds. One example is the deal on the market some months ago: Project Buffalo, by which 4,000 dwellings were removed from its accounts
Another interesting strategy is linked to a change of philosophy. Until now, BBVA culture was to keep to a maximum the value of the real estate on the balance sheet, declining offers even if they were of value. From now onward, real estate is to be thought of like an inheritance, which ones needs to free oneself from as sson as possible at the best possible price, in order of priorities.