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Board of directors 12 Feb 2018

BBVA to appoint three new independent board members

BBVA will propose the appointment of Jaime Caruana, Ana Peralta and Jan Verplancke as independent board members at its Annual General Meeting. With these new additions, BBVA will strengthen the board’s financial and technological capabilities. It will consist of 15 members, the majority of whom will be independent.

BBVA’s Board of Directors has decided to propose the appointment of Jaime Caruana, Ana Peralta and Jan Verplancke as independent board members. Following the 2018 Annual General Meeting, and provided that these proposals are approved, the BBVA board will be made up of 15 members, with a majority being independent (8).

With these new proposals, BBVA seeks to promote the diversity of its board in terms of expertise, knowledge, competency and gender. This is reflected in the appointment of members with  solid international exposure and robust specialization in finance and technology, both of which are deemed highly relevant for BBVA. It also brings the bank closer to its goal of having at least 30% female board members in 2020.

The appointments are subject to the fit and proper assessments of the European Central Bank. Mr. Caruana will join the BBVA board of directors on June 1, 2018, in compliance with his commitments with the Bank for International Settlements (BIS).

Jaime Caruana (Spain, b. 1952) has had an extensive career, including high-level positions in central banks, international organizations and the private sector. Between 2009 and 2017, he was General Director of the Bank for International Settlements (BIS). He was also Head of Monetary, Capital Markets and Financial Counselor for the General Manager of the International Monetary Fund (IMF). Mr. Caruana also chaired the Basel’s Banking Supervisory Committee (BIS), was Governor of the Bank of Spain and a member of the Governing Council of the European Central Bank. Previously, he was General Manager of Banking Supervision at the Bank of Spain, General Manager of Treasury and Financial Policy, Bank of Spain's and director of the Spanish regulator, the National Securities Market Commission (CNMV). Mr. Caruana was also Spanish representative in the Monetary Committee of the European Union and Director of the Spanish Net Equity Stakes. Previously, he was General Director and CEO of Renta 4 and its investment fund manager.

Ana Peralta (Spain, b. 1961) has held several senior positions in Spanish financial institutions. She was Chief Risk Officer and a member of the management committee of Bankinter (2004-2008) and of Banco Pastor (2008-2012), and an independent director at Banco Etchevarría (2013-2014). Since 2012, she has been senior advisor at Oliver Wyman Financial Services. In 2014, she was appointed as independent member of the board of director sat Deutsche Bank Spain. She is also an independent director at Grenergy Renovables S.A. and two companies of Grupo Lar.

Jan Verplancke (Belgium, b.1963) has solid experience in the field of information technology and banking. Between 2004 and 2015, he was Director and Chief Information Officer with Standard Chartered Bank, and Group Head of Technology and banking operations in Singapore. Previously, he was vice president of Technology and Chief Information Officer for EMEA with Dell. He also held several senior positions in technology with Levi Strauss.

Other proposals

The AGM will be held in Bilbao on March 16, 2018 as notified in the Relevant Event sent to Spanish regulator CNMV. In addition to the above-mentioned appointments, the agenda includes the approval of BBVA’s annual financial statements for 2017.