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Francisco González Rodríguez
CEO, Banco Bilbao Vizcaya Argentaria
Age:
Years as a CEO:
Tenure: 0
Industry: Finance
CEO DOSSIER
Francisco is CEO of Banco Bilbao Vizcaya y Argentaria group (BBVA). He is also Executive Chairman and Chairman of the Executive Committee.
early years
Francisco was born in Galicia, Spain in a town called Chantada near Lugo. He attended university in Madrid at the Universidad Complutense and obtained a degree in economics in 1970.
At the start of his career, Francisco showed both interest and talent in the computer industry, where he received a solid base for introducing cutting-edge technology into his banking efforts later on.
In 1983 he made the change from computers to stockbroking. where he prospered to the extent of founding his own business in 1987, FG Inversiones Bursátiles. This also proved a successful venture and in 1996 Francisco sold his firm to Merrill Lynch for $30 million. While he made plans for his way forward, he stayed on with Merrill Lynch as Senior Adviser.
Francisco established contacts with the conservative political party known as the Partido Popular (PP). He organised a series of seminars to promote his company, FG Inversiones, and he invited speakers including the PP member of congress, Rodrigo Rato. Francisco and Mr. Rato became good friends, a relationship that was providential when the PP won the elections in 1996.
As ceo
Francisco’s future took a turn when, in 1996, the Spanish Government, then led by the Partido Popular, appointed him as chairman of Argentaria, the banking group. Over three years he had the difficult job of completing the privatization of the group and lead it through important reforms. This meant the elimination of a large number of job, refinancing certain assets and restructuring management. He was successful in his restructuring efforts, even though there was a stiff drop in profits during the first year of his appointment.
Hostile to ostentatious displays of wealth, in 1997 Francisco told the Financial Times that, "banks have to make money. They don't need pictures and piles of pretty brick and marble."
At the time of the big bank mergers in Spain at the turn of the century, Francisco considered merging Argentaria with Banco Bilbao Vizcaya and found himself as co-chairman of the new entity with Emilio Ybarra, who had been CEO at BBV. This merger brought in its wake a large scandal that rocked European banking. The discovery of a series of allegations of illicit dealings, although they had occurred before the merger, was a shock to Francisco. He felt it was his responsibility to clear the bank’s reputation. He told Business Week in 2001, "I felt shocked, worried, and betrayed".
Bouncing back from a possible setback, he carried out a major reform in the Group, cleaning up the accounts, improved control, he changed the terms of employment for executives from the ‘who you know’ to ‘what you know’, profession:
"BBVA will have the most advanced code of governance and standard of transparency. Society is expecting it."
True to his roots in computing and technology, Francisco has adopted state-of-the-art technology such as electronic payment systems, telephone and internet banking.
Away from work
Francisco is married with two children. He enjoys golf and he used to go to the gym for an hour everyday.
In own words
Advice for the Spanish government on what its priorities should be:
“Stabilising the financial system. To do so it’s important to identify the weak banks, clean their balance sheets, restructure them and ensure that stronger banks with sufficient capital, liquidity and management capacity take them over. That way, when only solid banks remain, Spain’s financial system as a whole will also be strong. The weaker banks need to disappear because, aside from failing to do their job of providing credit, they weaken the rest of the system.”
When asked about the Spanish situation:
“We face an opportunity to build a new Spain, economically more powerful and sustainable, and to recover our rightful position.”
About the errors made with savings banks:
“If we want to stop this happening again we must explain what occurred to the Spanish public and place the blame on those responsible — without exceptions.”
His opinion about BBVA:
“We are overcoming this crisis without public aid, without costing the public a single euro and without selling strategic assets.”
Leadership and philosophy
He is a strong believer in delegating authority. González told the Financial Times in 1996 that:
"the whole thing is having a good team. I don't believe in the style of a chairman having to do everything. I prefer people to think for themselves."
Our Three Questions
1) You told PricewaterhouseCoopers that you thought that the weak banks in Spain needed to disappear, as they were weakening the rest of the system. Have events moved far enough in that direction.
2) You have said you believe in a person-to-person banking philosophy: How does this fit in with BBVA’s eviction of mortgage debtors?
3) You’re a fan of technology. How far advanced are BBVA’s plans to introduce mobile payment systems via smartphones?
Date Written
02-12-2012Sources
Financial Times
PricewaterhouseCoopers
Reference for Business.com
Bloomberg Businessweek
Financial Times
PricewaterhouseCoopers
Reference for Business.com
Bloomberg Businessweek
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Latest News
Francisco González Rodríguez
Mr. Francisco González Rodríguez has been an Executive Chairman and Chief Executive Officer of Banco Alvorada S.A. (Banco Bilbao Vizcaya Argentaria Brasil SA.) and Banco Bilbao Vizcaya Argentaria, S.A. since January 28, 2000. Mr. Rodríguez has been the ... read more...
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2015-02-12 22:26:52
Banco Bilbao Vizcaya Argentaria S.A.
Francisco González Rodríguez, 69 Chairman & Chief Executive Officer The Institute of International Finance, Inc., Grupo Financiero BBVA Bancomer SA de CV, Banco Bilbao Vizcaya Argentaria SA, BBVA Bancomer SA de CV, Prince of Asturias Foundation ... read more...
2013-10-18 00:52:55
Banco Bilbao Vizcaya Argentaria S.A. ADS
Francisco González Rodríguez, 69 Chairman & Chief Executive Officer Prince of Asturias Foundation, The Conference Board, Inc., BBVA Bancomer SA de CV, Banco Bilbao Vizcaya Argentaria SA, International Monetary Conference, Fundación BBVA, Museo ... read more...
2013-09-19 20:54:07
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Financials
Business summary
Employees: 115,852
Banco Bilbao Vizcaya Argentaria, S.A. engages in the retail banking, asset management, private banking, and wholesale banking businesses. It accepts various customer deposits, such as demand, savings, and time deposits; and offers commercial and industrial, construction real estate, mortgage, and individual loans. The company provides corporate, business, and investment banking services; and insurance products, as well as manages mutual and pension funds; and engages in treasury and distribution activities. It serves small and medium sized enterprises, corporations, public institutions, multinationals, and developer sectors in Spain and internationally. Banco Bilbao Vizcaya Argentaria, S.A. was founded in 1988 and is headquartered in Bilbao, Spain.
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