BBVA banks on us

In a win that opens the door to other engagements on forthcoming regulatory developments, KPMG in Spain has won the project to assist BBVA, one of Europe’s largest banks, in implementing the European Market Infrastructure Regulation (EMIR).

The EMIR regulations were developed to improve the transparency and stability of the derivatives markets and although competition for this engagement was considerable, BBVA chose KPMG because of its:

• Position in Spain as a leading provider of financial regulation
   advisory services.

• Multidisciplinary and specialised team. This included professionals with
   wide-ranging credentials and experience relating to derivatives markets and
   regulatory changes including Dodd Frank, EMIR, MiFID 2, Basel III and
   FATCA.

• Diversity of expertise. Together with the support provided by the
   FS Regulatory Center of Excellence, this greatly differentiated our offering
   in the eyes of the client.

• Deep and broad knowledge of BBVA and strong existing relationship
   with the client. KPMG knows the BBVA Group and its international operations
   through working on previous engagements – including assisting with the
   financial consolidation process, RWAs and FATCA. KPMG’s partners,
   directors, managers and team members all maintain strong relationships with
   the different departments of the bank.

• Long-standing track record of collaboration with BBVA and reputation as a
   key advisor in the implementation of regulatory changes.