Banco Sabadell's board of directors proposed on 5 February 2026 that Marc Armengol, currently chief executive of TSB, the bank's British subsidiary, be appointed Group CEO effective May 2026, pending approval at the annual general meeting and from the European Central Bank.
Armengol will succeed César González-Bueno, who is stepping down by mutual agreement after five years leading the group. During González-Bueno's tenure, Sabadell's shares rose twelvefold and the bank repelled a hostile takeover attempt by BBVA.
AN INSIDER WITH TWO DECADES AT THE GROUP
He joined the bank in 2002, accumulating more than two decades of experience across various roles within the group before taking on the leadership of TSB.
He leads TSB, the Edinburgh-based high street lender that Sabadell has owned since 2015 and agreed in July 2025 to sell to Banco Santander. TSB serves millions of retail and small business customers across the United Kingdom.
The board indicated in its announcement that Armengol will lead the bank's next phase of technological transformation.
SUCCESSION SUBJECT TO REGULATORY AND SHAREHOLDER SIGN-OFF
The formal appointment remains subject to approval at the AGM and ECB clearance. Until those approvals are confirmed, González-Bueno remains in post.
TSB, which Sabadell agreed in July 2025 to sell to Banco Santander in a £2.65 billion deal, will need a new chief executive; the Sabadell announcement did not name Armengol's successor at TSB.
Bank news that matters, every weekday.
Follow The Global Banker on LinkedIn