Reported by the Consejeros Editorial Team
The Catalan financial institution has announced a new organisational structure aimed at accelerating its transformation, simplifying management and strengthening the execution of its business plan. To implement this organisational change, Banco Sabadell has created two new specialised divisions: the Corporate Transformation and Artificial Intelligence division and the Business Transformation division. The former has been established to provide a further boost to the roll-out of artificial intelligence across the organisation, whilst the latter is geared towards accelerating product innovation for high-value customers, digitalisation and projects with a direct impact on customers. This new structure will come into effect on 1 September.
The composition of the Management Committee remains unchanged to preserve governance stability whilst this new phase of transformation is being driven forward.
Source: Banco Sabadell
Furthermore, the bank has notified the Spanish National Securities Market Commission of the parameters of its share buy-back programme. According to the document, the maximum monetary amount is €331 million, and the maximum number of shares the company intends to acquire amounts to 467,846,248. This total figure represents approximately 10 per cent of the share capital issued by the banking group.
