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BBVA Research: the BBVA Group's new comprehensive economic and markets analysis platform, closer to business and clients

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  • BBVA Research unites the capacities of the Economic Research Department and BBVA Global Markets Research
  • BBVA Research will develop a global analysis model, bringing the Group closer to business and its clients
  • The unit, specializing in markets analysis, will continue to form part of the global business value chain, catering to the needs of the Group's wholesale customers

BBVA announced today the creation of a new unit comprising the Group's economic and financial markets analysis units. The new platform, BBVA Research, will merge the current Economic Research Department and BBVA Global Markets Research. The aim is to gather both areas of specialization under a single product to provide greater perspective and depth to the Group's customer guidance services.

With BBVA Research, the Group will become one of the few organizations in the world that brings together economic and financial advice within an analysis model that is both pioneering and innovative.

José Luis Escrivá, chief economist at the BBVA Group, will manage over 200 economists and analysts in the BBVA Research team. "Our challenge is to take advantage of the enormous potential created by bringing two areas of knowledge together, integrating talent and maximizing the global reach of the teams, so that we can add yet more value to the economic and financial advice we offer to our customers and to the organization itself," José Luis Escrivá said.

BBVA Research's advice services will cover several areas: economic situation, structural and institutional analysis of economies, sector watch, financial analysis, corporate and microeconomic analysis, and analysis of markets and financial products.

This dual capacity of BBVA Research is an opportunity to expand its large platform and reach more customers and geographical areas.

Organization chart

BBVA Research will be structured into five units:

  • North America, managed by Jorge Sicilia, including the United States and Mexico. The purpose of this unit is to develop comprehensive monitoring of the economic situation in both countries and their interrelation, placing particular emphasis on the structural and cyclical analysis of both economies, on regional development and sector outlook, as well as on monetary policy developments.
  • Spain and Europe, under Rafael Doménech at the supervision, seeking to reinforce the analysis of the European economy and pinpoint the study of the Spanish economy within an increasingly global context.
  • Emerging Economies, directed by Alicia García-Herrero, which primarily includes economic analysis of Latin America and Asia. In order to foster the latter, Stephen Schwartz, joined the group as chief Economist for Asia. This unit is bolstered by the addition of the analysis of pension systems and cross-cutting reports on emerging economies.
  • Global Economic and Financial Scenarios, managed by Mayte Ledo, has been extended with a new study area, Regulation and Public Policies. Increasingly faster changes affecting the regulatory framework and its possible impact on the financial industry requires a reflection that brings value to the current public opinion debate. María Abascal has joined to assist with monitoring of regulatory issues and Juan Ruiz will be responsible for reinforcing the cross-cutting macroeconomic analysis carried out by this unit to date.
  • Market & Client Strategy (M&CS) is a new unit directed by Antonio Pulido, who, until now, acted as director of BBVA Global Markets Research. The unit is structured based on products and underlying assets, with a global coverage and offering a comprehensive service to WB&AM clients.  This new unit is a single platform designed to extend the current customer loyalty model used up to date by M&CS with the Global Markets Unit towards the rest of the wholesale units.

    M&CS is organized, in turn, into three sub-units:

    • Interest Rates, Currencies and Commodities, managed by Luis Enrique Rodríguez, which will be responsible for trends, flows and the generation of ideas and products for underlying assets of markets.
    • Equity and Credit, headed by Ana Munera, will spread its scope of analysis to the markets of Southern Europe and Latin America, to foster a brand among our global clients.
    • Asset Management, led by Henrik Lumholdt, will develop sector strategies and ideas to generate an asset management that is both dynamic and integrated into the financial context. The goal is to generate strategies and ideas for Asset Management clients.
    At the same time, the Sector Business Strategy sub-unit, headed by Alfredo Echevarría, is created within the structure of Corporate and Investment Banking unit of Wholesale Banking & Asset Management (WB&AM) to promote a strategic dialogue with the bank's corporate clients, being proactive in the generation of ideas and providing all customers of this area with the knowledge generated by this new analysis unit, BBVA Research.


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