Sabadell Names Armengol CEO as González-Bueno Steps Down

Banco Sabadell SA Chief Executive Officer César González-Bueno is leaving in a surprise move just a few months after he led the lender’s successful defense against a hostile bid from rival BBVA SA.

Marc Armengol, who runs the UK unit TSB that Sabadell sold to Banco Santander SA last year, has been named as successor, the Spanish lender said in a statement late Thursday.