Maurici Lladó, Managing Director – Miami Branch, Banco Sabadell

Invest: spoke with Maurici Lladó, managing director of Banco Sabadell, Miami Branch, about the bank’s role in supporting cross-border clients, where private banking and corporate banking demand is strengthening in South Florida, and how institutions are evaluating selective growth opportunities. “If a location has strategic relevance to what we already do, it becomes worth evaluating. But the most natural place to grow, if you can, is where your core platform already exists,” Lladó said.

How does Banco Sabadell, Miami Branch fit into the bank’s broader strategy, especially as a gateway between the United States, Latin America, and Europe?

Banco Sabadell’s Miami office is built around international business. Our focus here is not retail banking. We are a private and corporate bank, and we work with a set of specific client needs, many of which are cross-border.

From Miami, the value proposition is connectivity. The market sits at a practical intersection for clients and transactions involving the United States, Latin America, and Europe. In that context, our role is to support clients who are operating across jurisdictions and who need a bank that can understand and execute on the realities of international business, including how requirements and expectations change depending on where the client is located and where the transaction is happening.

A key part of our work is helping clients navigate how business gets done across markets. That includes supporting companies and individuals with ties to Spain, Latin America, and the United States, and helping them operate in a way that is efficient and well-structured.

What have you been watching most closely in the Miami market, and what does it mean for your clients?

Miami continues to evolve in a way that creates more opportunities for international banking. The market’s growth has brought more complexity and more sophisticated needs, especially in segments tied to corporate activity and wealth management.

We are also paying close attention to how South Florida is positioning itself in a changing environment. The geopolitical context matters, as do shifts in where capital is moving and where people and companies are choosing to be based. For clients with international footprints, Miami can serve as a practical base, but the decisions they make depend on confidence in the market, the quality of professional services, and the depth of the ecosystem they can access.

From the banking perspective, what we see is continued demand for solutions that support international operations, as well as interest in Miami as a place to build longer-term plans rather than only a temporary presence.

How do you describe Banco Sabadell’s core banking model in Miami, and why is it different from what people might expect from a traditional bank?

It is important to clarify that we are not a bank focused on day-to-day consumer banking. Our model is private banking and corporate banking, and we operate with specific niches in mind.

That shapes what we do in Miami. The relationships and services are oriented toward clients who have more complex financial needs. In practice, that means structuring solutions for clients who are investing, expanding, or operating across markets and who need a bank that can support those transactions with the right expertise.

You’ve talked about an increased focus on private banking and potential M&A opportunities. What does that look like in practice for Banco Sabadell?

Preferably in Miami, but we can also explore opportunities in markets that make strategic sense, such as Houston.

In terms of where we see opportunity, Miami is the priority because it allows you to build on the structure you already have. When you can leverage an existing platform, you can operate more efficiently. That matters, especially when you are thinking about growth that is additive and sustainable.

There are also cases where exploring another market could make sense if it opens new business opportunities aligned with the broader strategy. The point is not expansion for expansion’s sake. It is to identify opportunities that fit the client base and the bank’s strengths.

We also consider how markets connect. If a location has strategic relevance to what we already do, it becomes worth evaluating. But the most natural place to grow, if you can, is where your core platform already exists.

Why does Houston stand out as a potential market worth exploring, even if Miami remains the priority?

Houston is interesting because of how it connects to Mexico and to Miami. We have a bank in Mexico, and we have a bank in Miami, so Houston can function like a triangle between those markets.

That connectivity is the kind of strategic logic that can justify looking outside of Miami. It does not mean we have identified a specific opportunity there, nor does it mean we would shift our focus away from South Florida. But it is an example of the kind of market you might explore if the right opportunity appears and if it supports the way our client base operates across geographies.

From your perspective, what needs to happen for Miami to continue moving from a high-growth city to a truly global business hub?

In my view, the corporate relocation momentum is a hot topic, and it matters because it influences everything else.

If you want Miami to become a global hub, it needs the ingredients that support that, including talent and larger, more established companies operating in the market. You cannot become a hub for global growth if there is not enough talent and if there are not enough major companies anchored in Miami. Especially in the financial world, the depth of the ecosystem is what ultimately determines whether the market can sustain the next phase of evolution.

The idea of Miami as a global business hub can become more real over time, and the city has many of the conditions to move in that direction. But it has to be fed with a stronger corporate presence and strong talent. If that continues to develop, the market’s global positioning becomes a consequence of that progress.

How do you think about balancing the efficiency of building in Miami with the possibility of opening new markets?

The most efficient approach is to build where you can leverage the infrastructure you already have. That is why, in principle, Miami is the best place for us to focus. When you can scale what you already have, you can deliver more effectively without duplicating structures unnecessarily.

However, if a new market opens the door to meaningful business and aligns strategically, you can evaluate it. But it has to make sense within the bank’s model and the type of clients we serve. For us, it is always about whether the opportunity fits the way we operate as a private and corporate bank, and whether it supports the cross-border needs that define a large part of our value in Miami.

Looking ahead, what themes do you expect will define demand for international banking services in South Florida over the next year?

We expect continued interest in Miami as an operating base for international clients, and we expect the needs to remain sophisticated. Clients are looking for banks that can support cross-border activity, and they want partners that understand the practical differences between markets, not just culturally, but in terms of how transactions work and how business is structured.

As Miami continues to develop, the opportunity is to support that growth with deeper capabilities and stronger market infrastructure. For institutions like ours, the focus is on staying aligned with where client demand is going, while maintaining discipline about which opportunities genuinely fit our model and where we can deliver the most value.