Grupo Supervielle S.A. (NYSE:SUPV) (BYMA:SUPV), a prominent financial services group in Argentina, announced the appointment of Gustavo Manriquez as the new CEO of Banco Supervielle, effective October 1, 2024. This leadership transition comes as part of a planned succession process initiated in April 2024, with Alejandro Stengel stepping down from the role.
Gustavo Manriquez, who has served as CEO and General Manager of Banco Macro since 2016, is recognized for his efforts in establishing the bank as a leading private franchise in Argentina and for spearheading a digital strategy that transformed the bank's value proposition. With over 30 years in the Argentine financial industry, Manriquez has held various executive roles, including leading Retail and SMEs divisions at Scotiabank Uruguay and an extensive career at Citibank in Argentina and internationally.
Manriquez's academic credentials include a bachelor’s degree in business administration from Universidad de Belgrano, a postgraduate degree in Finance from CEMA, and an MBA from IAE, where he also completed the Executive Development Program.
Upon his appointment, Manriquez expressed his commitment to continuing the innovation and growth that have been characteristic of Banco Supervielle, aiming to refine financial solutions for clients and communities and to contribute to Argentina's economic transformation.
Patricio Supervielle, Chairman and CEO of Grupo Supervielle, thanked Alejandro Stengel for his contributions over the past four years, which have been instrumental in transforming the bank's operating model and preparing for the future. He expressed confidence in Manriquez's ability to lead the bank into a new era of growth, emphasizing his extensive experience and expertise.
In other recent news, Argentina-based financial services provider, Grupo Supervielle, concluded its Share Repurchase Program, having acquired a total of 4,940,665 common shares, representing 1.08% of its share capital. The repurchase program aligns with the company's strategic financial management and reflects its ongoing efforts to optimize its capital structure.
In addition, the company reported a significant share transfer with the Supervielle y Familia Trust acquiring 24 million Class B shares, now accounting for 7.03% of the company's voting rights. Despite this, Mr. Julio Patricio Supervielle retains the majority of voting rights, ensuring continued leadership stability.
These recent developments underline Grupo Supervielle's ongoing efforts to navigate the financial landscape. All transactions were executed following regulatory guidelines, reflecting the company's commitment to transparency.
The company's strategic initiatives such as these demonstrate its dedication to maintaining robust financial practices.
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