BBVA replaces chief executive

Chief executive Ignacio Goirigolzarri of BBVA, the second-biggest bank in Spain, is being replaced by the bank’s director of human resources, Angel Cano. The bank’s chairman Francisco Gonzalez will remain. The decision to replace Goirigolzarri comes just days after BBVA announced it had raised €2bn (£1.8bn) via a bond issue and sold assets worth €1.15bn.