Garanti BBVA has appointed Mahmut Akten as its new Chief Executive Officer and BBVA Country Manager for Turkey, subject to approval from the Banking Regulation and Supervision Agency. Akten, who currently serves as Head of Corporate, Investment Banking and Global Markets at the bank, will succeed Recep Baştuğ, who is stepping down after more than thirty years with the organisation. BBVA announced the appointment on 2 August 2024.
Spain's BBVA holds a controlling stake in Garanti BBVA.
AKTEN'S BACKGROUND
Mahmut Akten led Garanti BBVA's retail banking from 2012 before taking charge of corporate, investment banking and global markets in 2022.
BAŞTUĞ DEPARTS AFTER MORE THAN 30 YEARS
Recep Baştuğ has been with the organisation for more than three decades. BBVA chief executive Onur Genç said: "Recep has successfully led Garanti BBVA in a period of significant macroeconomic and competitive challenges and we thank him for his outstanding performance."
The formal appointment of Akten remains contingent on clearance from the BRSA. BBVA said the appointment will take effect once the required regulatory approvals have been obtained.