BANCO SANTANDER MÉXICO ANNOUNCES STRUCTURAL CHANGES IN ITS CEO POSITION AND SENIOR MANAGEMENT

Rhea-AI Summary

Banco Santander México announced the appointment of Mr. Felipe García Ascencio as the new CEO, succeeding Mr. Héctor Grisi Checa, who will remain as Executive Chairman until December 31, 2022. García Ascencio has extensive experience in the financial sector, previously leading Corporate Investment Banking at Santander. Alongside this change, the bank appointed two new vice presidents and made several organizational adjustments in leadership roles, enhancing its operational structure.

Positive

• Appointment of a new CEO with extensive industry experience.
• Creation of two vice-presidencies to strengthen management structure.
• Leadership changes could lead to improved operational efficiency.

Negative

• None.

MEXICO CITY, July 21, 2022 /PRNewswire/ -- Banco Santander México, S.A., Institución de Banca Múltiple, Grupo Financiero Santander México (BMV: BSMX; NYSE: BSMX) ("Banco Santander México" or the "Bank") one of the leading banking institutions in Mexico, announced that, on the date hereof, its Board of Directors approved the appointment of Mr. Felipe García Ascencio as Chief Executive Officer of the Bank, replacing Mr. Héctor Grisi Checa. Mr. Héctor Grisi will remain as Executive Chairman and Chief Executive Officer of Grupo Financiero Santander México (the "Group") until December 31, 2022.

Mr. Felipe García Ascencio has a degree in Economics from the Instituto Tecnológico Autónomo de México and a master's degree in economics from the London School of Economics and Political Science. He has broad experience in the Mexican financial industry and he has worked in the Group as Head of Mexico's Corporate Investment Banking (SCIB). Previously, he worked at Credit Suisse for 18 years in different positions, the last of which was Head of Corporate & Sovereign Latam Coverage, a part of the Global Markets division. Mr. Felipe Garcia Ascencio also worked at Goldman Sachs and the Ministry of Finance and Public Credit (Secretaría de Hacienda y Crédito Público).

The Board also approved the creation of two Vice-presidencies. The Vice-presidency of Administration and Finance, to be led by Mr. Didier Mena Campos, who currently holds the position of Chief Financial Officer, and the Vice-presidency of Consumer, Commercial and Institution Business Banking, to be held by Mr. Pablo Fernando Quesada Gómez, who heads the Consumer, Commercial and Institution Business Banking department.

The new organizational structure includes the appointments of Mr. Alejandro Capote Garza as the new Head of SCIB; Ms. Ana Felisa López Escobar, as Head of Human Resources, replacing Mr. Juan Ignacio Echeverría Fernández; and Mr. Matías Núñez Castro, as Head of Digital, Innovation and Channels, replacing Ms. Maria Fuencisla Gómez Martín.

ABOUT BANCO SANTANDER MÉXICO (NYSE: BSMX BMV: BSMX)
Banco Santander México, S.A., Institución de Banca Múltiple, Grupo Financiero Santander México (Banco Santander México), one of the leading banks in Mexico, offers a wide range of products and financial services, including retail banking, financial advisory services, as well as other investment activities. Banco Santander Mexico offers a financial services platform focused on the middle and high-income segments of the population as well as small and medium companies. It also provides financial services to large multinational companies in Mexico. As of March 31, 2022, Banco Santander Mexico held total assets of Ps.1,734 billion pesos and had more than 20.1 million clients. Based in Mexico City, the company operates 1,345 branches and offices nationwide with a total of 25,342 employees.

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SOURCE Banco Santander México, S.A.

FAQ

Who was appointed as CEO of Banco Santander México?

Mr. Felipe García Ascencio was appointed as the new CEO of Banco Santander México.

What is the role of Héctor Grisi Checa after the CEO transition?

Héctor Grisi Checa will remain as Executive Chairman and CEO of Grupo Financiero Santander México until December 31, 2022.

What new leadership positions were created at Banco Santander México?

The bank created two vice-presidencies: one for Administration and Finance, and another for Consumer, Commercial, and Institution Business Banking.

When was the new CEO appointed for Banco Santander México?

Mr. Felipe García Ascencio was appointed as CEO on July 21, 2022.

What experience does Felipe García Ascencio have?

Felipe García Ascencio has significant experience in the financial sector, previously working at Credit Suisse and Goldman Sachs before leading Corporate Investment Banking at Santander.