in Economics from the University of Barcelona and a MBA in International Business from the European University (Barcelona). Valera is a Certified Public Accountant and Certified Insurance Broker. He introduced, amongst other things, the bank's first audit committee and was actively involved in the design and implementation of an integrated management approach for internal controls, quality and operational risk the introduction of the bank's compliance function and the creation of its first internal model to measure operational risk. Varela spent nine years in the bank's internal audit function when it was in an early stage of development. He is a member of Sabadell's Management Committee.ĭuring his time at Sabadell, Sr. Varela's responsibilities include financial reporting asset and liability management funding structure economic analysis accounting and financial management capital management short, medium and long term financial planning cost management M&A financial structure and investor relations. Over 23 years he has developed his career at Sabadell, having previously held different managerial positions in the insurance sector at Allianz (Spain) and as an auditor at Price Waterhouse (a legacy firm of "PWC") over a 10 year period. Tomás Varelais General Manager and Chief Financial Officer of Sabadell, which he joined in 1992. He holds a Global Executive MBA from ESADE and an MBA from Georgetown University (McDonough School of Business - School of Foreign Services). Montes is academic adviser at ESADE Business School. Furthermore, he is a member of Mastercard's Continental Europe Advisory Board. He is Vicepresident of Solvia, a Board member of the SAREB (Sociedad de Gestión de Activos procedentes de la Reestructuración Bancaria), Sabadell United Bank in the US and President of Sabadell Capital, SOFOM in Mexico. Montes led Sabadell's technological platform renovation the development of its multi-channel strategy and the transformation of the its operating model. Additionally, he has played a leading role in designing business strategy, IT architecture, operations and governance and control arrangements. Montes has developed capabilities in risk identification mitigation monitoring and management. These projects include national and international acquisitions, (Banco Herrero, Banco Atlántico, Banco Urquijo, Banco Guipuzcoano, Banco CAM, Penedès in Spain and Mellon United National Bank, Lydian Private Bank, Lloyds, and JGB in the United States). Since joining the bank in 2001, he has led a number of strategic and technological projects which have contributed significantly to the bank's transformation. In addition, he holds responbility for the bank's corporate development function and is a member of the bank's Management Committee. Montes leads Sabadell's technology innovation operations organisation and efficiency functions. He has extensive retail banking experience having held senior positions at Deutsche Bank, Banco Atlántico and Banca Catalana in the 21 years prior to joining Sabadell.Ĭurrently, Sr. Miguel Montesis General Manager and Chief Operations and Corporate Development Officer of Sabadell, which he joined in 2001. They bring valuable and wide ranging experience with them that will be instrumental in shaping TSB's future." "We look forward to working with Miguel and Tomás to deliver local banking to Britain and to provide a different and better kind of service to our customers. All have helped to guide us through a high profile IPO and the implementation of our strategy to deliver better banking to Britain and the acquisition of TSB by Sabadell. "I thank Philip, Norval and Mark for their service during a pivotal time in TSB's history. Non-Executive Directors Philip Augar, Norval Bryson and Mark Fisher are to resign with immediate effect.įollowing today's announcement, TSB's Non-Executive Directors will therefore comprise Will Samuel,(Chairman) Dame Sandra Dawson, Miguel Montes, Sandy Kinney Pritchard, Stuart Sinclair, Tomás Varela and Polly Williams. Its Executive Directors will continue to be Paul Pester,(Chief Executive) and Darren Pope,(Chief Financial Officer).Ĭommenting on the appointments, Will Samuel, Chairman of TSB Banking Group plc, says: "I am delighted to welcome the new members of the Board, which reflect our new ownership following completion of the Sabadell deal TSB Banking Group plc ("TSB") today announces that, having joined the Banco de Sabadell group ("Sabadell"), Miguel Montes and Tomás Varela are to join its Board as Non-Executive Directors with immediate effect.
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