Fannie Mae is adding the former chairman and CEO of BBVA Compass, Manuel “Manolo” Sánchez Rodríguez, to its board of directors, the government-sponsored enterprise announced Monday.
Sánchez served as president and CEO of BBVA Compass, a U.S. subsidiary of Banco Bilbao Vizcaya Argentaria, from December 2008 to January 2017.
Additionally, Sánchez served as a member of Banco Bilbao Vizcaya Argentaria’s worldwide executive committee and was BBVA’s country manager for U.S. operations from September 2010 to January 2017.
In September 2010, Sánchez also became chairman of the board of directors of BBVA Compass and its holding company, BBVA Compass Bancshares, serving in these roles until November 2017.
Sánchez joined BBVA in 1990 and served in a number of other roles with the international company before leading the company’s U.S. operations. Earlier in his BBVA career, Sánchez was senior executive vice president of community banking, president and chief executive officer of Laredo National Bank, and chief risk officer for BBVA Bancomer in Mexico City.
“Manolo is another strong addition to our exceptional Board of Directors,” said Fannie Mae CEO Tim Mayopoulos.
“His extensive banking experience, financial services and technology expertise, and strong leadership qualities are a great complement to those of his peers on the board,” Mayopoulos added. “He will help guide us as we continue to deliver against our strategy, improve as a company, and look for ways to provide our customers the innovative tools and solutions they need to address the needs of both today’s and tomorrow’s homebuyers and renters.”
Sánchez, who currently serves as a trustee or member of the board of directors of a number of civic, cultural and educational institutions, has been appointed to Fannie Mae’s Strategic Initiatives & Technology Committee and Nominating & Corporate Governance Committee.
“We are extremely pleased to welcome Manolo to the Fannie Mae Board of Directors,” Egbert L.J. Perry, Fannie Mae’s chairman of the board, said. “We will benefit greatly from his vast banking and financial services experience, technology innovation track record, and deep business strategy expertise.”