Credicorp Ltd.: Credicorp appoints Francesca Raffo as Chief Innovation Officer, effective February 1st, 2022

Rhea-AI Summary

Credicorp Ltd. has appointed Francesca Raffo as the Chief Innovation Officer, effective February 1, 2022, to spearhead its digital transformation and innovation strategy. This new role aims to align all lines of business with Credicorp's strategy of disruption in the financial services sector. Ms. Raffo, with 26 years at BCP, will also maintain her position as Deputy CEO of Retail Banking. Additionally, Cesar Rivera will take over as Head of Insurance and Pensions, also effective February 1, following Alvaro Correa's retirement. Rivera brings over 25 years of experience in the sector.

Positive

• Francesca Raffo's appointment as Chief Innovation Officer is expected to enhance Credicorp's digital transformation strategy.
• The new governance aims to foster innovation and alignment across all business lines.
• Cesar Rivera's extensive experience in Insurance and Pensions strengthens leadership continuity.

Negative

• None.

Lima, Jan. 27, 2022 (GLOBE NEWSWIRE) -- Lima, PERU, January 27^th, 2022 – Credicorp Ltd. announces that the Board of Directors, in its session held on January 27th, 2022, appointed Francesca Raffo as Chief Innovation Officer of Credicorp, effective February 1st, 2022.

This position, which was recently created, will ensure that all LOBs are aligned with Credicorp’s strategy to act as force of disruption and innovation in the financial services industry.  With its new governance structure, the company intends to strengthen its capabilities to incubate new business models that are close to its core at each LOB Innovation Center while pursuing external innovation opportunities through its Corporate Venture Center, Krealo. The company is combining agility with superior user experience while leveraging its distribution network, business diversification, scale and extensive network of long-term client relationships. Credicorp will present its digital transformation strategy and digitally-led growth opportunities at an Investor Digital Day on March 15th in New York and on March 16th in London, more information here.

“Francesca is the right person to take on this new role to advance our digital transformation and innovation process at the Credicorp level,” said Mr. Gianfranco Ferrari, CEO of Credicorp. “Francesca has driven the development and execution of BCP’s digital transformation strategy to date.  Her passion for everything digital and belief in the power of disruption will serve her well as she leads the Group’s ambitious innovation plans.
”
Ms. Raffo will continue in her role as Deputy CEO Retail Banking at BCP, which she assumed in June 2020. Her successful career at BCP spans 26 years and includes heading Transformation at BCP; managing the Satisfied Customers’ Division; creating BCP's first Innovation Center; and leading the Marketing Services Area. Ms. Raffo joined BCP in 1994 as a member of the Process Reengineering pioneer team and, thereafter, led different strategic projects within Retail Banking. Ms. Raffo holds a Bachelor’s Degree in Business Administration and an MBA in Management Information Systems, both from American University in Washington DC.

Cesar Rivera is the new Head Insurance and Pensions, effective February 1^st, 2022

Additionally, the Board determined that Mr. Cesar Rivera will be the Head of the LOB Insurance and Pensions in replacement of Alvaro Correa, who recently retired.
Mr. Rivera has more than 25 years of experience in the Pensions and Insurance sector and will remain in his current role of CEO of Pacifico Compañía de Seguros y Reaseugros, which he has held since January 2020. Prior to this, Mr. Rivera held different key positions in the sector including General Manager in Pacifico Vida Life Insurance Company; Deputy General Manager in American Life Insurance Company (ALICO) in Argentina; and General Manager in Santander Life Insurance Company in Peru. Mr. Rivera is also currently a member of the Board of Directors at Prima AFP, Mibanco SA, Crediseguro Personas and Crediseguro Generales in Bolivia. He has a degree in Industrial Engineering from the Universidad de Piura and MBA from ESAN.

About Credicorp

Credicorp Ltd. (NYSE: BAP) is the leading financial services holding company in Peru with presence in Chile, Colombia and Bolivia. Credicorp has a diversified business portfolio organized intoin four lines of business: Universal Banking, through Banco de Credito del Peru – BCP and Banco de Credito de Bolivia; Microfinance, through Mibanco in Peru and Colombia; Insurance & Pension Funds, through Grupo Pacifico and Prima AFP; and Investment Banking & Wealth Management, through Credicorp Capital, Wealth Management at BCP and Atlantic Security Bank.

For further information please contact the IR team:

investorrelations@credicorpperu.com

Investor Relations
Credicorp Ltd.

FAQ

What is the significance of Francesca Raffo's appointment at Credicorp?

Francesca Raffo's appointment as Chief Innovation Officer indicates Credicorp's commitment to enhancing digital transformation and innovation in its operations.

Who is Cesar Rivera and what role is he taking on at Credicorp?

Cesar Rivera has been appointed Head of Insurance and Pensions, effective February 1, 2022, bringing over 25 years of experience in the sector.

What is Credicorp's strategy for innovation?

Credicorp aims to act as a force of disruption in the financial services industry by aligning all business lines with its innovation strategy.

When is Credicorp's Investor Digital Day?

Credicorp will present its digital transformation strategy at the Investor Digital Day on March 15 in New York and March 16 in London.