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Garanti BBVA names new CEO

Turkish bank Garanti BBVA, previously known as Türkiye Garanti Bankası AŞ, named Recep Baştuğ CEO.

Baştuğ replaces Ali Fuat Erbil, who left the CEO position as a result of his retirement plan. Baştuğ will also become the new country manager for Banco Bilbao Vizcaya Argentaria SA in Turkey.

The changes are effective Sept. 1, subject to required regulatory approvals.

Baştuğ has held several executive positions at Garanti BBVA since joining the bank in 1989, and was most recently responsible for commercial banking and consumer finance, before becoming an executive board member at Turkish industrial conglomerate Ciner Group.