- Group pairs well with bank's Equipment Finance offerings
- Division will help trucking, rail, shipping, logistics and air-related companies
- Industry expert leads bank's team
HOUSTON, April 22, 2014 /PRNewswire/ -- BBVA Compass can now help clients move goods across the country with its new Transportation Banking group.
The specialty group will provide loans, revolving credit, equipment and acquisition financing and other financial products and services to trucking, rail, shipping, logistics and air-related businesses across the country. The news comes less than a year after the bank launched its Equipment Finance group, which helps companies lease and acquire rail cars, aircraft and other equipment.
"Transportation Banking pairs well with our Equipment Finance offering," said Rafael Bustillo, BBVA Compass' head of Commercial Banking. "Now, we can provide our customers everything from financing their equipment fleet to helping them expand through acquisitions."
BBVA Compass Transportation Banking is led by Nick Weaver, who has more than 20 years of experience in the specialized industry, most recently with Regions Bank. Weaver earned his Master of Business Administration from Emory University and his Bachelor of Science from the University of Tennessee.
"Transportation continues to be a stable and growing industry closely tied to the demand for consumer goods and raw materials across the country," said Weaver, who is based in Atlanta. "As the economy continues to improve, we expect to see an increase in the movement of goods."
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About BBVA Group
BBVA Compass is a subsidiary of BBVA Compass Bancshares Inc., a wholly owned subsidiary of BBVA (NYSE: BBVA) (MAD: BBVA). BBVA is a customer-centric global financial services group founded in 1857. The Group has a solid position in Spain, is the largest financial institution in Mexico and has leading franchises in South America and the Sunbelt region of the United States. Its diversified business is geared toward high-growth markets and relies on technology as a key sustainable competitive advantage. Corporate responsibility is at the core of its business model. BBVA fosters financial education and inclusion, and supports scientific research and culture. It operates with the highest integrity, a long-term vision and applies best practices. The Group is present in the main sustainability indexes. More information about BBVA Group can be found at www.bbva.com.
About BBVA Compass
BBVA Compass is a Sunbelt-based financial institution that operates 685 branches, including 350 in Texas, 90 in Alabama, 78 in Arizona, 64 in California, 45 in Florida, 38 in Colorado and 20 in New Mexico. BBVA Compass ranks among the top 25 largest U.S. commercial banks based on deposit market share and ranks among the largest banks in Alabama (2nd), Texas (4th) and Arizona (5th). BBVA Compass has been recognized as one of the leading small business lenders by the Small Business Administration and was recently awarded the 2013 Celent Model Bank Award for its new core banking platform. Additional information about BBVA Compass can be found at www.bbvacompass.com, by following @BBVACompassNews on Twitter or visiting newsroom.bbvacompass.com.