BBVA Corporate and Investment Banking (BBVA CIB) has established new trading and sales hubs in Hong Kong and in New York as part of its strategy to build a global investment product franchise.
The new hubs are part of the company’s plan to expand its equities business for institutional and corporate clients.
BBVA global head of equity Roberto Vila said: “The addition of two regional hubs, fully aligned and integrated with our operations in Madrid and Mexico City, is a key milestone for BBVA in achieving a high-quality local delivery of global investment products.”
The firm’s trading desk for US equity will transfer from Mexico City to the new hub in New York and will serve its current and future clients both in the US and Latin America.
It will continue to be led by Marc Fauvain, who is currently in charge of the desk.
The Hong Kong hub will bolster the global product capabilities of BBVA in the manufacturing of structured investment products for private banks and asset managers in Hong Kong and Singapore.
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By GlobalDataThe hub will distribute the offering through both digital and traditional channels, BBVA said.
It will be led by July Michl, who joined joined BBVA from Natixis to oversee the firm’s global equities activity in Asia.
In May 2020, BBVA launched a web-based price discovery tool called epricer for its equities and credit-linked structured products.
In November last year, the bank developed a cloud-based tool named C-Fit to drive the equity team’s efficient and robust risk management capabilities.
The same year, it established a new business line to focus on the design, manufacturing and distribution of Quantitative Investment Strategies.