(Bloomberg) -- BBVA SA has hired Miguel Otamendi as global head of banks coverage as it continues to reorganize its corporate and investment banking unit, according to people familiar with the matter.
Otamendi will be based in Madrid and report to Juan Blasco, global head of institutional business, said people familiar with the appointment, who asked not to be named. He had been with Nomura between 2008 and 2020, most recently as co-head of the financial institutions group for EMEA.
BBVA, Spain’s second largest lender, is looking to grow its investment banking unit with plans to more than triple staff at its Houston office and increase headcount in London. The business accounted for 30% of the bank’s profit in the first half of the year.
Otamendi joins BBVA after working for several years as a senior consultant for big institutions, according to his LinkedIn profile. Prior to Nomura, Otamendi worked at Lehman Brothers from 1997 to 2008.
A spokesperson from BBVA declined to comment.
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