Signing that reorganizes the metropolitan area into BBVA
Financial market sources confirmed that BBVA has included Javier de Celis, its director to date Solvency, supervision and resolution At Caixa Bank. After more than two decades working at the Catalan entity, the CEO will join the active capital and balance sheet management unit of the Basque Bank in the coming weeks.
This division was created just one year ago for a very specific purpose: to improve the mechanisms by which BBVA transfers credit risk from its balance sheet, in particular through Significant risk transfer (SRT), securitization and direct portfolio sales.
An area designed to gain organizational efficiency
The philosophy behind this module is not new, but it has become relevant in an environment where European supervisors are increasingly demanding more precision in measuring risk. For example, SRT transactions allow the bank to obtain credit protection for the portfolio, transferring the first loss tranches to a third party. This process frees up regulatory capital if approved by the authorities.
According to sector information, BBVA is accelerating its activity in this area due to growing demand from institutional investors, who are looking for alternatives in the increasingly sophisticated transferred risk market. The signing of a solvency and monitoring expert file specifically aims to reinforce this strategy.
How it fits into the bank’s capital plans
BBVA CEO Onur Genç has set an ambitious target: generating €49 billion in capital over the next four years. A large portion of this figure will be returned to shareholders through various formulas, in line with the increasing pressure of the markets.
The role of SRT in this goal
In this global plan, SRT operations – a technology that is still relatively unknown outside professional circles – are supposed to contribute about 5 billion euros. Its advantage is clear: it improves capital consumption without deteriorating the quality of the balance sheet, as long as the reduction in credit risk is significant and with the approval of the supervisory authority.
This mechanism allows the entity to redirect capital towards strategic investments or towards shareholder rewards. Javier de Selis’ operational and regulatory knowledge will be relevant at this stage, since these transactions require careful coordination between the areas of risk, regulatory compliance and capital markets.
The long career journey of the new manager
De Celis spent more than 21 years at CaixaBank, where he held responsibilities related to financial solvency and the relationship with supervisors. His portfolio combines technical expertise in internal models, regulatory processes and bank resolution, three central areas in modern capital management.
A silent but important movement
None of the entities involved issued public comments. Neither BBVA nor CaixaBank wanted to comment on this move, and the manager himself avoided making any statements. This type of discretion is common in contracts with high regulatory influence.
Despite the absence of official data, the financial sector interprets this movement as a clear indication of the strategic direction of BBVA: strengthening its internal capabilities to expand the use of SRT operations, improving balance sheet efficiency and accelerating the release of capital in a context marked by the recent failure of the takeover bid for Banco Sabadell.
Another step in the internal competition of Spanish banks
Large Spanish banks continue to adjust structures and strengthen key teams. In an environment where capital is considered a strategic resource, profiles with direct experience of solvency and stewardship gain increasing value. The integration of Javier de Celis fits into this trend and aligns BBVA with advanced risk management practices at European level.
Expected impact on medium-term strategy
The Basque Bank can increase the pace and scale of its operations, standardize new risk measurement methodologies and expand the diversification of covered portfolios. Your ability to execute these processes efficiently will be critical to achieving your committed capital plan.
In this scenario, the signing from CaixaBank not only provides technical expertise, but also symbolizes the commitment to strengthening the strategic line that will differentiate the competition between the main entities in the coming years. With this movement, PBVA It closes a major chapter of internal renewal and opens another in which capital improvement will be crucial to its position in the market.