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Banesco USA Announces Departure of President & Chief Executive Officer Jorge Salas; to Be replaced by Mr. Mario Oliva

MIAMI–(BUSINESS WIRE)–The Board of Directors (the “Board”) of Banesco USA today announced that Mr. Jorge Salas submitted his resignation and will step down as President & Chief Executive Officer effective January 31, 2020. Mr. Salas will be joining Banco Latinoamericano de Comercio Exterior, S.A. (“Bladex”) (NYSE: BLX). He will be succeeded by Mr. Mario Oliva.

Banesco USA’s Chairman, Mr. Carlos Palomares, said: “The Board would like to express its appreciation for Jorge’s management of the Bank during the last 6 years, where the institution has made significant strides in further improving efficiency and overall performance. Because of his stewardship, Banesco USA is well-positioned to succeed in the future, in what is a rapidly evolving landscape for the banking sector.

Banesco USA is fortunate to have a successor of Mario Oliva’s caliber, who is a seasoned international banker with vast experience and a proven track record in the financial services industry in Latin America and the US. Mr. Salas and Mr. Oliva have worked in coordination to ensure a smooth transition. The Board is confident that, under Mario Oliva’s leadership, the Bank will continue to thrive, enhancing its role in the market and our clients, while delivering increasing value to our shareholders.”

Mr. Oliva said of his appointment: “I am honored to have been assigned the responsibility to continue building upon Banesco USA’s unique strengths. We operate in an important market that presents opportunities to fuel the Bank’s growth and success. I am grateful to the Board for their confidence, and I am looking forward to developing these opportunities, and continuing to work together with the extraordinary team of professionals at Banesco USA.”

Commenting on his decision to step down Mr. Salas said: “I am pleased to have been associated with the Banesco group for the last 20 years in different capacities. Since my appointment as CEO, in Banesco USA I have had the opportunity to be part of their growth and success. I would like to thank our Board of Directors and our shareholders for their confidence, and the team of professionals at Banesco USA, which I had the privilege to manage in the last 6 years, for their support and help in strengthening the leadership role of the Bank. I wish Mario the best of luck and continued success for Banesco USA.”

Mr. Oliva has been a member of the Board of the various entities that comprise the Banesco Group in the Americas, as well as being the Corporate Coordinator of all the Chief Credit Officers of the Americas. Mr. Oliva has over 30 years of banking experience Domestic and International markets. Mr. Oliva holds a Master’s in Business Administration (M.B.A) from IESA in Caracas, Venezuela.

Banesco USA, is part of Banesco International, a worldwide group of financial institutions with presence in 15 countries. Banesco International is comprised of four financial groups Venezuela, Latin America, USA and Spain with extensive and recognized experience in the Banking, insurance, and payment methods.

About Banesco USA

Founded in 2006 and based in Coral Gables, Banesco USA is an independent Florida state-chartered bank (https://banescousa.com/OFR-Cert-of-Good-Standing.pdf) with $1.83 billion in assets as of September 30, 2019. The bank has six branches in South Florida: Coral Gables, Doral, Hialeah, Weston, Aventura and Brickell (with the recent acquisition); and one in San Juan, Puerto Rico. Banesco USA, South Florida Business Journal’s 2019 Business of the Year, has a 5-star rating from the Bauer Financial rating service and recently raised its Fitch Rating outlook to Positive. Visit www.BanescoUSA.com for information.

 

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