This area encompasses the business conducted by the Group in the United States through BBVA Compass, BBVA Bancomer USA and BBVA Ventures, as well as the assets and liabilities of the office in New York. BBVA Compass is the banking unit and it has 685 branches and is among the 25 largest banks in the United States. BBVA Bancomer USA is responsible for international transfer services and BBVA Ventures is a recently created unit designed to invest in start-ups that aim to transform the financial services industry.
In the second half of 2013, BBVA transferred all of the outstanding stock of its subsidiary BBVA Securities Inc. (BSI) to BBVA Compass. BSI is a registered broker-dealer and engages in investment banking and sales of fixed-income securities. In November 2013, BBVA Compass Bancshares Inc., the bank holding company, filed a registration statement with the U.S. Securities and Exchange Commission (SEC) to voluntarily become a public listed company. The registration statement became effective in January 2014 and BBVA Compass is now subject to filing periodic reports and other information to the SEC.
