BBVA Compass names Hector Chacon CEO of Texas border region
BBVA Compass announced today it has named Hector Chacon the bank’s Texas border region CEO in a move aimed at fostering deeper ties to clients and communities in the region that stretches more than 800 miles from El Paso to Brownsville.
Chacon will lead the bank’s efforts to further tap into opportunities in the region, which has been important to BBVA since the global financial services firm entered the U.S. market with its acquisition of Laredo-based Laredo National Bancshares in 2004. BBVA Compass, BBVA’s U.S. franchise, now has a leading market share position in the upper and lower Rio Grande Valley, El Paso andLaredo.
Chacon’s new role is part of the bank’s broader reorganization, which was announced in November and combines BBVA Compass’ lines of business — Retail, Wealth Management and Commercial — into one unit. The new Consumer and Commercial Bank is designed to provide more comprehensive customer service while increasing productivity and revenues, and its emphasis on local market leadership builds greater accountability in meeting community needs.
“Hector knows the region and he knows Mexico and that makes him an excellent choice to lead our efforts in the border cities, which have different needs and demands than customers in larger metro cities,” said BBVA Compass Chief Operating Officer Rafael Bustillo, who leads the Consumer and Commercial Bank. “He has the expertise to help our clients in this growing region.”
International trucking and trade are significant drivers of the economy in the area, while the recent opening of Mexico’s energy sector promises to create more economic growth. Chacon has led a team that has worked closely with the region’s primarily Hispanic population as well as with top energy executives.
Chacon joined Bancomer, BBVA’s subsidiary in Mexico, in 1986, and its U.S. operations in 1997. Most recently, he led BBVA Compass’ International Wealth Management unit. He’s also worked for BBVA subsidiaries in Mexico City, Miami and Houston. He graduated from the Instituto Tecnologico Autonomo de Mexico (ITAM) and holds a master’s from the Instituto Panamericano de Alta Direccion de Empresas (IPADE) in Mexico City.