Since the arrival of Marc Armengol as CEO of Banc Sabadell last May, practically everything has been positive for the Vallesan entity. During the last four months, the executive has presented almost record-breaking half-year results, with skyrocketing revenues and a net profit of 971 million euros, has exceeded the stock market value prior to the distribution of the extraordinary dividend from the sale of the British subsidiary TSB and continues to boast of its capacity to grow independently after the failed takeover bid by BBVA. Backed by his predecessor, César González-Bueno, and by the group's chairman, Josep Oliu, it is now that Armengol faces his real acid test. This September 1st, the new organizational structure of the bank designed by Armengol himself came into operation. It is the gala lineup with which the former CEO of TSB must now command the fourth largest entity in the State by volume of assets. The composition of the management committee—formed precisely by eleven members, like soccer teams—remains unchanged, but notable changes have been applied in some business areas. Known for his techie profile, Armengol has wanted to make his preferences clear.

With the highest quorum in recent years, over 71%, according to the secretary of the board, Miquel Roca, Banco Sabadell has gathered shareholders today at the first post-failed BBVA OPA meeting. A meeting that has served as a farewell from the CEO who has been for the last more than five years, César González-Bueno; and a welcome to the new one, Marc Armengol, a professional with more than 25 years of experience in the company. And it had an unusual ending for board meetings, a refreshment as an shareholder requested a year ago, recalled the bank's president, Josep Oliu.

I don't know if César González-Bueno, 65, CEO of Banc Sabadell, is a Beatles fan, but he's copied them by resigning at the height of their success. "He could have stayed on as long as he wanted, but he preferred to hand over the reins to someone with a promising career ahead of him," I'm told. After five years, he's leaving—he says—of his own volition and in agreement with Chairman Josep Oliu, his comrade in arms and through the tensions during the BBVA takeover bid, which they both sacked, convinced he's done his job.