Banco Sabadell has named Marc Armengol as the new chief executive of its British arm, TSB, succeeding Robin Bulloch who is retiring. Elena Carrera, currently the head of Sustainability and Efficiency, will assume Armengol’s duties as Chief Operating and Technology Officer. The appointment remains subject to the required regulatory approvals and is expected to take effect in early 2025, with Armengol stepping away from Sabadell’s executive committee. These leadership changes at TSB come as Sabadell faces a hostile bid from BBVA, which has already obtained the green light from Brussels to press ahead.
Armengol holds a degree in Administration and Management from Pompeu Fabra University in Barcelona and a specialization in Information Technology from the Universiteit van Amsterdam. He joined Sabadell in 2002, leading various operations, technology, and organizational initiatives, and played a central role in the integrations that followed several acquisitions. He later moved to the United States, where, as head of operations for the Americas and the International Network, he oversaw the acquisition of entities in the U.S. market and the launch of Sabadell’s banking subsidiary in Mexico. (Source: Sabadell biography)
He has served on the board of Sabadell’s UK subsidiary since 2022. Previously, he was director of Corporate Strategy at TSB from 2018 to 2021. In 2021, he was named director of Operations and Technology for the bank and became a member of the executive committee. (Source: Sabadell press materials)
Carrera joined the bank in 2015 as a director at Sabadell Consulting and two years later was named director of Global Organization and Corporate Projects, leading transformation initiatives across the group. In July 2021 she became director of Efficiency and Corporate Projects, later joining the executive committee as director of Sustainability and Efficiency. She holds a degree in Administration and Management from ESADE and an MBA from Columbia Business School in New York. (Source: Sabadell profile)
The two roles Carrera previously held will be split between two current members of the executive committee. Sonia Quibus, general manager of People, will assume responsibility for the sustainability area, with the unit renamed People and Sustainability. Marc Prat, general manager of Strategy, will assume the Efficiency function, which will be reorganized under the banner of Strategy and Efficiency. (Source: Sabadell governance updates)