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NYSE : OFG
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Management

Management

Executive Team

José Rafael Fernández
President, CEO, Vice Chairman
José R. Fernández is President, Chief Executive Officer, and Vice Chairman of the Board of Directors of OFG Bancorp and its primary subsidiary, Oriental Bank. He also is Chairman of the Boards of Directors of OFG’s other major subsidiaries – Oriental Financial Services, Oriental Insurance and Oriental Pension Consultants. From 1991, when he joined Oriental, until 2004, when he was named CEO, Mr. Fernández managed all of the company’s core businesses.

Since heading up OFG, Mr. Fernández has significantly expanded Oriental’s stature and capabilities in Puerto Rico through organic growth and two major acquisitions (Eurobank in 2010 and BBVA’s Puerto Rico operations in 2013).

Starting as the 9th largest bank in 2004, Oriental has become the challenger institution, rising to No. 2 and 3 market shares in retail banking (auto, consumer and mortgage lending and deposits), commercial banking (lending for small and mid-sized enterprises and deposits), and wealth management. In so doing, Oriental has led the local banking and financial services industry with the introduction of innovative customer-facing digital technology, providing unparalleled levels of convenience and value added service.

Mr. Fernández also devotes considerable time and effort to organizations focused on the economic and educational development of Puerto Rico.

From 2015-2018, he was Chairman of the Board of Trustees of Universidad del Sagrado Corazón (University of the Sacred Heart), one of the oldest and largest educational institutions in Puerto Rico. From 2011 until 2016, Mr. Fernández served as a member of the Federal Reserve Bank of New York’s Community Depository Institutions Advisory Council. From 2013-2015, he was President of the Puerto Rico Bankers Association. Since 2008, Mr. Fernández has been a member of the Business Advisory Board of the University of Notre Dame’s Mendoza School of Business, and a Member of the Advisory Board for Puerto Rico Conservation Trust.

In addition, Mr. Fernández is frequently asked by the U.S. Department of the Treasury and Congress and Puerto Rico’s Executive Branch for his insight on how to navigate the economic challenges facing the island.

For his work Mr. Fernández has been recognized personally and professionally. In 2003, he received the Top Management Award in Banking and Finance from the Sales and Marketing Executives of Puerto Rico (SME). In 2008, he received the Lifetime Leadership Award from the Young Presidents Organization’s Puerto Rico Chapter. In 2011, he received the Distinguished Alumni Award from the University of Notre Dame’s Mendoza School of Business Executive Education Program.

Mr. Fernández holds a Bachelor of Science degree from the University of Notre Dame in South Bend, Indiana and a Masters of Business Administration from the University of Michigan in Ann Arbor, Michigan.
Ganesh Kumar
SEVP - Chief Operating Officer
Ganesh Kumar is Senior Executive Vice President and Chief Operating Officer, Head of Retail Banking & Business Development. Retail banking collectively represents OFG’s largest revenue generating business. Dr. Kumar is the second ranked executive at OFG and a member of the Executive Committee.

Dr. Kumar has been instrumental in transforming OFG, implementing its strategic vision, leading acquisition and integration efforts, and spearheading its emergence as a premier retail bank in Puerto Rico. He is considered an expert on where banking, marketing, operations and technology come together.

Dr. Kumar joined OFG in 2004 as Executive Vice President and Chief Operations Officer. In 2009, he was named Chief Operating Officer. In 2012, he was named Chief Financial Officer, where his core responsibilities included Corporate Strategy, Corporate Finance, and Treasury. In addition, he continued to oversee Human Resources, Information Technology, and Bank Operations.

Dr. Kumar was named to his present position in 2017. In addition to being head of all retail operations, he is responsible for strategic business development and expansion endeavors. His being named SEVP and COO culminates efforts to consolidate OFG’s retail functions, including digital banking, end to end, under one customer-centric structure as part of OFG’s emphasis on achieving a clear differentiation in how it delivers products and services.

Prior to OFG, Dr. Kumar was a Director of consulting practice for Gartner, Inc. (NYSE: IT), an industry leading research and advisory firm, where he advised a wide array of financial services companies on their business and growth strategies.

Earlier, Dr. Kumar was a Product Development Manager at McKesson Corporation (NYSE: MCK) from 1997 to 1999; a Planning and Technology Architect at InterContinental Hotels Group (NYSE: IHG) from 1995-1997; and as a Consultant, advising several large, banking and insurance clientele worldwide, from 1986 to 1995.

Dr. Kumar holds a doctorate in management from Case Western Reserve University, Cleveland, OH.
Maritza Arizmendi Díaz
EVP - Chief Financial Officer
Maritza Arizmendi, CPA, Esq., is Executive Vice President and Chief Financial Officer, and a member of the Executive Committee. Her responsibilities include corporate finance, accounting and financial planning, reporting and business analytics.

Ms. Arizmendi has successfully held positions of increasing management and responsibly in banking and finance throughout her career. She joined OFG in 2012 when it acquired BBVA’s Puerto Rico Operations, where she was CFO and Treasurer of the subsidiary of the Spanish bank.

Ms. Arizmendi was named OFG’s Senior Vice President of Corporate Finance in 2012, Chief Accounting Officer in 2014, and EVP and CFO in 2017.

She started her career at PricewaterhouseCoopers LLP, where she attained the position of Senior Auditor, and then served as Vice President of Loan Review at Poncebank, which was acquired by BBVA in 1998. She was named Vice President of Risk Management of BBVA PR Operations in 1998, Senior Vice President of Financial Planning in 2000, and Chief Financial Officer and Treasurer in 2006.

She is a Certified Public Accountant and is admitted to practice law in Puerto Rico. Ms. Arizmendi received her Bachelor’s Degree in Accounting and a Juris Doctor from the University of Puerto Rico.
Carlos O. Souffront
General Counsel and Secretary Board of Directors
Carlos O. Souffront served on the Board of the Company’s predecessor, Oriental Federal Savings Bank, from 1988 to 1996. He has served as Secretary of the Board of Directors of OFG Bancorp from 1996 to the present. Mr. Souffront joined the Company in January 2008 as General Counsel.

Prior to joining the Company, Mr. Souffront was a Partner at McConnell Valdes (“MacVal”), San Juan, Puerto Rico, from 1979 to December 2007. At MacVal he practiced corporate law with a concentration in Banking Law and Merger & Acquisitions, and served in numerous administrative functions such as Chair of the Policy Committee, member Executive Committee, Chair of the Corporate Department, Chair of the Administrative Committee, Chair of the Mergers and Acquisition Practice Group, among others. Prior to joining MacVal as a Partner in 1979, Mr. Souffront served from 1976 to 1979 as Vice President and General Counsel of Rexco Industries, Inc. and from 1972 to 1976 as an associate at MacVal.

Mr. Souffront was admitted to the Bar of the Commonwealth of Puerto Rico in 1972. He is a member of the Puerto Rico Bar Association and of the American Bar Association. Mr. Souffront holds a B.A. from Harvard University (1968) and a Juris Doctor from the New York University School of Law (1972).

Board of Directors

Julian S. Inclán
Chairman -- Committees: Audit, Compensation, Corporate Governance & Nominating, Credit, and Risk & Compliance
Chairman of the Board of OFG Bancorp since 2012.

Mr. Inclán has been a member of the Company’s Board of Directors since 2008 (including terms as a director of the Bank). He previously served as a director of the Company and Oriental Bank from 1995 to 2006.

Julian S. Inclán has been the President of American Paper Corporation, San Juan, Puerto Rico, a distributor of fine papers, office supplies and graphic art supplies, since September 1994. Mr.Inclán has served as Managing General Partner of Calibre, S. E., a real estate investment company, since 1991, and as President of Inclán Realty, San Juan, Puerto Rico, a real estate development company, since 1995. He is also the Managing Partner of Hamlet Associates, San Juan, Puerto Rico, a real estate development company since 1999.

Prior to American Paper, Mr. Inclán held executive management or sales positions at Puerto Rican Cement Co., Inc., Container Corporation of America, and The Economic Development Administration.

Mr. Inclán also has participated as an officer in a number of business and social organizations, such as Colegio San Ignacio Scholarship Fund, Association of Independent Printing Paper Merchants, and Caparra Country Club.

He graduated in 1969 from Fordham University with a bachelor's of science with a major in economics. In 1972, he earned a masters of business administration with a concentration in business economics and finance from Columbia University Graduate School of Business.
José Rafael Fernández
Vice Chairman
José R. Fernández is President, Chief Executive Officer, and Vice Chairman of the Board of Directors of OFG Bancorp and its primary subsidiary, Oriental Bank. He also is Chairman of the Boards of Directors of OFG’s other major subsidiaries – Oriental Financial Services, Oriental Insurance and Oriental Pension Consultants. From 1991, when he joined Oriental, until 2004, when he was named CEO, Mr. Fernández managed all of the company’s core businesses.

Since heading up OFG, Mr. Fernández has significantly expanded Oriental’s stature and capabilities in Puerto Rico through organic growth and two major acquisitions (Eurobank in 2010 and BBVA’s Puerto Rico operations in 2013).

Starting as the 9th largest bank in 2004, Oriental has become the challenger institution, rising to No. 2 and 3 market shares in retail banking (auto, consumer and mortgage lending and deposits), commercial banking (lending for small and mid-sized enterprises and deposits), and wealth management. In so doing, Oriental has led the local banking and financial services industry with the introduction of innovative customer-facing digital technology, providing unparalleled levels of convenience and value added service.

Mr. Fernández also devotes considerable time and effort to organizations focused on the economic and educational development of Puerto Rico.

From 2015-2018, he was Chairman of the Board of Trustees of Universidad del Sagrado Corazón (University of the Sacred Heart), one of the oldest and largest educational institutions in Puerto Rico. From 2011 until 2016, Mr. Fernández served as a member of the Federal Reserve Bank of New York’s Community Depository Institutions Advisory Council. From 2013-2015, he was President of the Puerto Rico Bankers Association. Since 2008, Mr. Fernández has been a member of the Business Advisory Board of the University of Notre Dame’s Mendoza School of Business, and a Member of the Advisory Board for Puerto Rico Conservation Trust.

In addition, Mr. Fernández is frequently asked by the U.S. Department of the Treasury and Congress and Puerto Rico’s Executive Branch for his insight on how to navigate the economic challenges facing the island.

For his work Mr. Fernández has been recognized personally and professionally. In 2003, he received the Top Management Award in Banking and Finance from the Sales and Marketing Executives of Puerto Rico (SME). In 2008, he received the Lifetime Leadership Award from the Young Presidents Organization’s Puerto Rico Chapter. In 2011, he received the Distinguished Alumni Award from the University of Notre Dame’s Mendoza School of Business Executive Education Program.

Mr. Fernández holds a Bachelor of Science degree from the University of Notre Dame in South Bend, Indiana and a Masters of Business Administration from the University of Michigan in Ann Arbor, Michigan.
Juan Carlos Aguayo
Director -- Committees: Corporate Governance & Nominating, Credit, and Risk & Compliance Committees
Director of OFG Bancorp since 2004.

Juan C. Aguayo, P.E., M.S.C.E., has been President and Chief Executive Officer of Structural Steel Works, Inc., Bayamón, Puerto Rico, since 2002, and Executive Vice President and Chief Operating Officer from 2000 to 2002.

From 1998 to 2000, Mr. Aguayo was Director of Construction and Development, of Development Company of the Americas, LLC, Denver, CO, and Monterrey, Mexico. From 1997 to 1998, he attended the Massachusetts Institute of Technology, Cambridge, MA, where he earned his Masters of Science in Civil Engineering (M.S.C.E.). He was Vice President of Structural Steel Works, Inc., from 1991 to 1997; Project Engineer, from 1986 to 1991; and also President of its affiliate, Structural Steel Manufacturing, Inc., from 1991 to 1997. In 1986, he obtained a Bachelor of Science in Civil Engineering from Princeton University, Princeton, NJ.

Mr. Aguayo is a licensed Professional Engineer, registered in Puerto Rico, and has served terms as a Member of the Board of Directors of the Puerto Rico chapter of the Association of General Contractors of America, from 1996 to 1997 and from 2003 to 2004.
Néstor de Jesús
Director -- Committees: Corporate Governance & Nominating and Risk & Compliance Committees
Director of OFG Bancorp since 2016.

Néstor de Jesus has more than 30 years of experience as an investment banker serving Puerto Rico private and public sector clients.

From 1984-2014, Mr. de Jesus was an investment banker in Puerto Rico with Lehman Brothers and Barclays Capital. Since 1996, he was Director of the Puerto Rico Office, Municipal Bond Division. His clients included higher education institutions, hospitals, real estate developers, manufacturing companies, hotels and tourism-related projects, and public sector issuers of revenue and general obligation bonds.

From 1979-1984, Mr. de Jesus served as Senior Consultant and Supervisor for the Management Consulting Group in the San Juan office of Ernst & Whinney (now Ernst & Young). His work focused on financial operations and management controls in the manufacturing, commercial, healthcare and government sectors.

Mr. de Jesus has a 1975 BS in Economics from the Wharton School at the University of Pennsylvania and a 1979 MBA from the Graduate School of Business Administration at the University of Michigan. He has been a board member of a number of Puerto Rico organizations, including the Government Development Bank for Puerto Rico, the Puerto Rico Housing Finance Authority, Ana G. Mendez University System, Puerto Rico Convention Bureau, Wharton Club of Puerto Rico, and the Puerto Rico Financial Analysts Association.
Pedro Morazzani Ferrer
Director -- Committee: Audit
Director of OFG Bancorp since 2006.

Pedro Morazzani Ferrer, founding partner of the accounting firm of Zayas, Morazzani & Co., San Juan, Puerto Rico, is a Certified Public Accountant, Certified Fraud Examiner, Certified Valuation Analyst, and Arbitrator. He obtained a Bachelor degree in Business Administration from the University of Puerto Rico in 1973, joined Peat, Marwick & Mitchell (now KPMG) in 1973, became a Certified Public Accountant in 1975, and co-founded Zayas, Morazzani in 1983.

Mr. Morazzani was and is involved in the audits and other related services rendered to commercial entities and other enterprises involved in various specialized industries such as commercial banking, government entities, educational institutions, credit unions, construction contractors and developers, and other segments of the economy. Mr. Morazzani is active in providing litigation support services, as a consultant and as an expert. He has been appointed by the P.R. Courts as Commissioner or Business Valuator. The main cases where Mr. Morazzani has participated are in the areas of divorce (alimony and division of community property), construction contracts, liquidation of estate assets, cancellation of contracts, partnership's dissolution, fraud, estimates of damages, etc.

During his 10 year tenure at Peat, Marwick, Mr. Morazzani gained extensive accounting, auditing and business experience, and held the position of Senior Manager in the Audit Department.
Jorge Colón Gerena
Director -- Committees: Audit, Compensations, and Corporate Governance & Nominating Committees
Director of OFG Bancorp since 2014.

Jorge Colón Gerena is the principal shareholder, president and CEO of restaurant operating companies that have the exclusive rights to the Wendy’s, Applebee’s and Famous Dave’s Legendary Pit Bar-BBQ franchises in Puerto Rico.

Since 1995, he has been the principal shareholder, president and CEO of Wendco of Puerto Rico, Inc., which owns 77 Wendy’s restaurants, generates more than $130 million in annual sales, and employs more than 3,000 people.

He also is the founder and CEO of companies that operate Applebee’s and Famous Dave’s Legendary Pit Bar-BBQ restaurants in Puerto Rico, and the chairman of holding companies for the Sizzler, Longhorn and Olive Garden restaurant chains on the Island.

Mr. Colón Gerena serves on the Boards of Directors of Center for a New Economy, an economic policy think-tank; Centro para Puerto Rico & Sila M. Calderón Foundation, a non-profit that works to eradicate poverty and empower low-income residents; Puerto Rico Tourism Company; and Central Caribbean University, the Island’s premier private medical university.

In the past, he was in charge of capital programs for the Puerto Rico Museum of Art, a Director of the Puerto Rico Restaurant Association (ASORE, its Spanish acronym), on the Advisory Council on Small Business and Agriculture to the President of the Federal Reserve Bank of New York, and Chapter Chairman of the Young Presidents’ Organization (YPO).

Mr. Colón Gerena earned a Bachelor’s in Arts & Sciences with a concentration in Business Management from Interamerican University in San Juan, and completed Executive Management courses at Northwestern University and Harvard Business School.
Edwin Pérez
Director
Director of OFG Bancorp since 2018.

Edwin Pérez is the owner and President of Puerto Rico Supplies Group, Inc., one of the largest consumer goods distributors in Puerto Rico, distributing more than 5,000 products, including leading brands of frozen foods, household goods, groceries, snacks, candy, health and beauty, prestige fragrances and tobacco products.
Carlos O. Souffront
Secretary of the Board of Directors
Carlos O. Souffront served on the Board of the Company’s predecessor, Oriental Federal Savings Bank, from 1988 to 1996. He has served as Secretary of the Board of Directors of OFG Bancorp from 1996 to the present. Mr. Souffront joined the Company in January 2008 as General Counsel.

Prior to joining the Company, Mr. Souffront was a Partner at McConnell Valdes (“MacVal”), San Juan, Puerto Rico, from 1979 to December 2007. At MacVal he practiced corporate law with a concentration in Banking Law and Merger & Acquisitions, and served in numerous administrative functions such as Chair of the Policy Committee, member Executive Committee, Chair of the Corporate Department, Chair of the Administrative Committee, Chair of the Mergers and Acquisition Practice Group, among others. Prior to joining MacVal as a Partner in 1979, Mr. Souffront served from 1976 to 1979 as Vice President and General Counsel of Rexco Industries, Inc. and from 1972 to 1976 as an associate at MacVal.

Mr. Souffront was admitted to the Bar of the Commonwealth of Puerto Rico in 1972. He is a member of the Puerto Rico Bar Association and of the American Bar Association. Mr. Souffront holds a B.A. from Harvard University (1968) and a Juris Doctor from the New York University School of Law (1972).