OFG Bancorp Names Ganesh Kumar as COO, Head of Retail Business; Maritza Arizmendi as CFO
March 08 2017 - 4:10PM
Business Wire
OFG Bancorp (NYSE: OFG) today named Ganesh Kumar, formerly
Executive Vice President and Chief Financial Officer, as Senior
Executive Vice President and Chief Operating Officer, in charge of
all retail operations, which collectively represent OFG’s largest
revenue generating business. Maritza Arizmendi, most recently
Senior Vice President Corporate Finance and Chief Accounting
Officer, was appointed Executive Vice President and Chief Financial
Officer, succeeding Dr. Kumar.
José Rafael Fernández, President, Chief Executive Officer, and
Vice Chairman of the Board, said Dr. Kumar’s new role culminates
efforts to consolidate all retail functions, end to end, under one
customer-centric structure. Dr. Kumar will also be in charge of
OFG’s strategic business development and expansion endeavors. Dr.
Kumar, 52, who has a doctorate in management from Case Western
Reserve University in Ohio, joined OFG in 2004 as an EVP and has
been the CFO since 2012.
“Ganesh’s expanded role signals the emergence of Oriental as a
premier retail bank in Puerto Rico and reflects our emphasis on
achieving a clear differentiation in how we deliver our products
and services,” Mr. Fernández said. “With such focus, we have been
able to exploit innovative customer facing technologies to grow our
retail portfolio and achieve solid financial results.
“With this move, Ganesh’s position, as the second ranked
executive at OFG, is solidified. This is an integral part of our
succession plan. It also is a clear recognition of his past
contributions to our success and the key role he is playing in our
business development and expansion. Ganesh has been instrumental in
transforming OFG, implementing our strategic vision, and leading
our acquisition and integration efforts, with Eurobank in 2010 and
BBVA’s Puerto Rico operations in 2012. We look forward to this next
chapter in our progress.”
Ms. Arizmendi, 48, a Certified Public Accountant and attorney,
will be responsible for corporate finance, accounting and financial
planning, reporting and business analytics. She has been SVP
Corporate Finance and Chief Accounting Officer since 2014. Ms.
Arizmendi will report to Mr. Fernández and joins him, Dr. Kumar and
Carlos O. Souffront, OFG’s General Counsel, as a member of the now
four-person Executive Committee.
“Maritza’s new position as EVP and CFO continues her stellar
career in banking,” Mr. Fernández said. “She joined OFG when we
acquired BBVA PR, where she had served as CFO and Treasurer, Senior
Vice President of Financial Planning, and Vice President of Risk
Management. Prior to its acquisition by BBVA PR, Maritza was Vice
President of Loan Review at Poncebank. She started her career at
PricewaterhouseCoopers, where she was a Senior Auditor. She holds
both a BS in Accounting and Juris Doctor from the University of
Puerto Rico. We look forward to working with Maritza in her
expanded role and welcome her insight as a new member of the
Executive Committee.”
Dr. Kumar and Ms. Arizmendi will continue to jointly handle
investor relations and communications with Wall Street.
About OFG Bancorp
Now in its 53rd year in business, OFG Bancorp is a diversified
financial holding company that operates under U.S. and Puerto Rico
banking laws and regulations. Its three principal subsidiaries,
Oriental Bank, Oriental Financial Services and Oriental Insurance,
provide a full range of commercial, consumer and mortgage banking
services, as well as financial planning, trust, insurance,
investment brokerage and investment banking services, primarily in
Puerto Rico, through 48 financial centers. Investor information can
be found at www.ofgbancorp.com.
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version on businesswire.com: http://www.businesswire.com/news/home/20170308006351/en/
For OFG BancorpPuerto Rico:Idalis Montalvo,
787-777-2847idalis.montalvo@orientalbank.comorUS:Gary
Fishman, 212-532-3232gfishman@ofgbancorp.comorSteven Anreder,
212-532-3232sanreder@ofgbancorp.com
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