Mahmut Akten to Succeed Recep Baştuğ as CEO of Garanti BBVA and BBVA Country Manager in Turkey

Mahmut Akten to Succeed Recep Baştuğ as CEO of Garanti BBVA and BBVA Country Manager in Turkey

(IN BRIEF) Mahmut Akten will become CEO of Garanti BBVA and BBVA Country Manager in Turkey, replacing Recep Baştuğ. The appointment is pending regulatory approval. BBVA has reorganized its global Client Solutions area, introducing new leadership for Commercial and Retail segments and creating a Digital Banks unit. Akten’s extensive experience and educational background position him well for this new role.

(PRESS RELEASE) BILBAO, 3-Aug-2024 — /EuropaWire/ — Mahmut Akten, currently Head of Corporate, Investment Banking, and Global Markets at Garanti BBVA, has been appointed as the new CEO of the bank and Country Manager of BBVA in Turkey. He will replace Recep Baştuğ, who is stepping down after a distinguished career spanning over three decades with the organization. Akten’s appointment is pending regulatory approval.

BBVA has announced a reorganization of its global Client Solutions area, segmenting it into Commercial Client Solutions, led by Jaime Sáenz de Tejada, and Retail Client Solutions, headed by David Puente. Additionally, a new global unit, Digital Banks, will be established under Murat Kalkan. These units will report directly to BBVA CEO Onur Genç. Further changes at the executive level have also been announced.

Mahmut Akten began his career in 1999 at Holcim, a global construction materials company. He later joined McKinsey & Co. in 2006, working in Boston and Istanbul. Akten joined Garanti BBVA in 2012 as Vice President for Retail Banking and was promoted to Executive Vice President for Corporate, Investment Banking, and Global Markets in 2022. He holds a B.Sc. in Electrical and Electronics Engineering from Boğaziçi University and an MBA from Carnegie Mellon University.

Onur Genç, CEO of BBVA, praised Recep Baştuğ for his leadership during challenging times and expressed confidence in Mahmut Akten’s ability to ensure a smooth transition and continued growth for Garanti BBVA. Genç stated, “Mahmut’s appointment guarantees a perfect transition and will help Garanti BBVA continue growing as one of the most profitable and admired banks in the country. We wish him every success going forward.”

Mahmut Akten began his career in 1999 at Holcim, a global construction materials company. In 2006, he moved to McKinsey & Co., working first in Boston and later in Istanbul. In 2012, he joined Garanti BBVA as Vice President for Retail Banking, and in 2022, he was appointed Executive Vice President in charge of Corporate, Investment Banking and Global Markets.

The new BBVA country manager in Turkey holds a B.Sc. in Electrical and Electronics Engineering from Boğaziçi University and an MBA from Carnegie Mellon University.

“Recep has successfully led Garanti BBVA in a period of significant macroeconomic and competitive challenges and we thank him for his outstanding performance,” said Onur Genç, CEO of BBVA. “Mahmut’s appointment guarantees a perfect transition and will help Garanti BBVA continue growing as one of the most profitable and admired banks in the country. We wish him every success going forward.”

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SOURCE: BBVA