Management & Directors

José R. Fernández is Chief Executive Officer and Vice Chair of the Board of Directors of OFG Bancorp and its primary subsidiary, Oriental Bank. He also is Chair of the Board of Directors of OFG’s other major subsidiaries – Oriental Financial Services and Oriental Insurance. 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 through organic growth and three major acquisitions: Puerto Rico’s Eurobank in 2010, BBVA’s Puerto Rico operations in 2013, and Scotiabank’s Puerto Rico and US Virgin Islands operations in 2019. Starting as the 9th largest bank in 2004, Oriental has become the challenger institution among the three remaining Puerto Rico banking institutions, with No. 2 and 3 market shares in retail and commercial banking, 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, environmental and educational development of Puerto Rico. From 2015-2018, he was Chairman of the Board of Trustees of Universidad del Sagrado Corazón, one of the oldest Catholic educational institutions in Puerto Rico. From 2011-2016, 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 of Puerto Rico Conservation Trust. In October 2020, Mr. Fernández was named a NACD Board Leadership Fellow.

Mr. Fernández holds a Bachelor of Science degree from the University of Notre Dame in South Bend, Indiana and a Master of Business Administration from the University of Michigan in Ann Arbor, Michigan.

Ganesh Kumar is Chief Operating Officer. In this role, he leads the Company’s strategic business development and expansion. Dr. Kumar also 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 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 culminated efforts to consolidate OFG’s retail functions, including digital banking, end to end, as part of OFG’s emphasis on achieving a clear differentiation in how it delivers products and services.

Prior to his appointment, Mr. Kumar served as Chief Financial Officer responsible for corporate finance, strategic planning, accounting and financial reporting, and business analytics. Previously, he served as Chief Operating Officer and Chief Risk Officer.

Before joining the Company in 2004, he was a director of consulting at Gartner Inc. (NYSE: IT), an industry leading research and advisory firm, where he assisted a wide array of financial service companies develop technology-enabled strategies and operational plans to meet desired results. Prior to Gartner, he was a manager at McKesson Corporation (NYSE: MCK) from 1997 to 1999; a planning and technology architect at Intercontinental Hotels Group (NYSE: IHG) from 1995 to 1997; and a consultant to financial services clients worldwide from 1986 to 1995.

Dr. Kumar holds a doctorate in management from Case Western Reserve University, Cleveland, OH, where he is currently a member of the Alumni Advisory Council.

Maritza Arizmendi, CPA, Esq., is Chief Financial Officer and a member of the Executive Committee. Her responsibilities include corporate finance, accounting, financial planning, reporting, treasury, asset liability management, capital planning, information technology and facilities management.

Ms. Arizmendi has successfully held positions of increasing management and responsibility 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 in financial services in Puerto Rico in 1990 at PricewaterhouseCoopers LLP, where she attained the position of Senior Auditor. In 1994, she was named Vice President of Loan Review at Poncebank, which was acquired by BBVA in 1998. Subsequently, she became 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 B.S. (Accounting) and Juris Doctor from the University of Puerto Rico.

José E. Cabrera Lázaro is the Chief Risk and Compliance Officer. He oversees all risk management strategies as well as regulatory and compliance matters.

Mr. Cabrera joined OFG in early 2020, having previously served as Chief Financial and Administrative Officer at Scotiabank de Puerto Rico, which, along with Scotiabank’s US Virgin Islands operation, was acquired by OFG in 2019. He had been with Scotiabank de Puerto Rico since 2007. He was named OFG’s Chief Risk and Compliance Officer in March 2020.

Prior to Scotiabank, Mr. Cabrera worked at Merck and Co.’s Manufacturing Division in Puerto Rico, where he was Audit and Tax Compliance Manager. Before that, he was a Senior Manager in the Assurance Services Group at Big Four accounting firm PricewaterhouseCoopers LLP.

Mr. Cabrera is a member of the Puerto Rico State Society of Certified Public Accountants. He received his Master of Business Administration in Finance from The University of Wisconsin – Madison and a Bachelor of Science in Business Administration (Accounting) from the University of Puerto Rico.

César A. Ortiz-Marcano is Managing Director of Retail Business Development. He is in charge of sales for the auto, mortgage and small business segments of the bank.

He was named to his current position in 2022 after serving as Director of the Corporate Performance Office, responsible for formalizing medium- and long-term operating leverage targets and ensuring the organization achieves them.

Mr. Ortiz has also served as Vice President of Commercial Credit and Operations, Chief Risk Officer, Controller, and Chief Accounting Officer.

Prior to joining us in 2007, he was Chief Accounting Officer and Controller at Doral Financial Corporation.

Mr. Ortiz started his career in financial services at PricewaterhouseCoopers LLP, where he rose to become Senior Manager in the Audit Department.

He has an MBA from the MIT Sloan School of Management, a J.D. from Inter American University School of Law, and a Bachelor of Business Administration in Accounting from University of Puerto Rico. Mr. Ortiz is also a Certified Public Accountant.

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 R. Fernández is 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 Board of Directors of OFG’s other major subsidiaries – Oriental Financial Services and Oriental Insurance. 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 through organic growth and three major acquisitions: Puerto Rico’s Eurobank in 2010, BBVA’s Puerto Rico operations in 2013, and Scotiabank’s Puerto Rico and US Virgin Islands operations in 2019. Starting as the 9th largest bank in 2004, Oriental has become the challenger institution, rising with No. 2 and 3 market shares in retail and commercial banking, 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, one of the oldest Catholic educational institutions in Puerto Rico. From 2011-2016, 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 of Puerto Rico Conservation Trust. In October, 2020, Mr. Fernández was named a NACD Board Leadership Fellow.

Mr. Fernández holds a Bachelor of Science degree from the University of Notre Dame in South Bend, Indiana and a Master of Business Administration from the University of Michigan in Ann Arbor, Michigan.

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 and Red Lobster 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.

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. He currently serves on the boards of directors of Rovira Biscuit Corporation, Rovira Foods and Academia Maria Reima Inc.

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.

Elected Director of OFG Bancorp April 2022, starts term in July 2022.

Annette Franqui is a Founding Partner, President and Chief Investment Officer of Forrestal Capital, a business and investment advisory firm formed in 2003 to service the original Latin American founding families of Panamerican Beverages (Panamco). Forrestal Capital invests primarily in direct private equity and venture capital transactions in diverse industries. Ms. Franqui is also a member of the Board of Directors of Arcos Dorados Holdings Inc. (NYSE:ARCO) and a member of its Compensation and Nomination Committee. Previously, she served as the Chief Financial Officer for Panamco and as a Managing Director at J.P. Morgan. Ms. Franqui is currently serving a term as Chairperson of the Board of Directors of AARP and had previously served as a Director and member of its Audit and Finance Committee since 2014.

Director of OFG Bancorp since 2019.

Sue Harnett has significant experience leading domestic and international financial service organizations through periods of major transformation often involving the reengineering of operations, technology, data, products, services, and marketing, as well as M&A and integration.

Since 2015, she has been a senior advisor to digital startups and mentor at the FinTech Innovation Lab, sponsored by Partnership Fund for New York City and Accenture. From 2012-2015, she was COO of North America for QBE Insurance Group Limited, one of the top insurers and reinsurers worldwide, based in Sydney, Australia. From 2001-2012, she held four key positions at Citigroup: President of Local Consumer Lending (2011-2012), Head of Global Business Performance (2008-2011), CEO of Citibank Germany (2004-2007), and Head of Retail Banking/Deputy CEO of Citibank EMEA (2001-2004).

Ms. Harnett served on the Board of Directors of First Niagara Financial Group, a $40 billion in assets publicly traded bank, from 2015 until its acquisition by KeyCorp in 2016. She has also served on the Board of QBE Insurance, CitiFinancial, and Visa Canada. She was Chair of Citi’s Management Board in Germany and of the Global Perspectives Advisory Group of Marquette University College of Business. Ms. Harnett currently serves on the board of Life Storage, Inc.

She holds a Bachelor's degree from Marquette University, an Executive Master of Business Administration degree from Northwestern University's Kellogg Graduate School of Management, and a Board Leadership Fellow from the National Association of Corporate Directors.

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. He also serves on the Board of CODERI, a school for children with disabilities.

Prior to joining Puerto Rico Supplies, Mr. Pérez served as President of Supermercados Pueblo after having served as President and Partner of Supermercados Amigo. From 1988 to 1992, he was the President of Conagra in Puerto Rico after having served in various leadership positions with its subsidiaries, Molinos de Puerto Rico and To Ricos. From 1981 to 1988, Mr. Pérez occupied various roles with increasing responsibilities until serving as Sales Director of R.J. Reynolds Tobacco Company. He previously served on the Board of Directors of Scotiabank de Puerto Rico from 2014 to 2015 and as Chairman of the Food Bank and CODERI.

Mr. Pérez holds a business degree from the University of Puerto Rico and a Master’s in Labor Relations from Michigan State University.

Director of OFG Bancorp since October 28, 2021.

Rafael Vélez is the Founder and President of Atabey Capital (2016), a private equity advisement firm, and Campo Alegre (2016), a 500-acre pineapple farm in Puerto Rico. From 2007 until 2019, he was the Founder and President of Putney Capital Management with offices in Santo Domingo, Dominican Republic and Puerto Rico, a non-discretionary advisor to an investment fund with investments in the energy, agroindustry and construction material sectors in the Caribbean and North of Latin American region.

From 2004 to 2012, he was the founding partner of Barreto & Vélez, a CPA firm specialized in advising clients manage inherent risks through sound corporate governance practices. Mr. Vélez also serves as Board member of the Boys & Girls Club of Puerto Rico as well as YPO Puerto Rico and is a member of the Georgetown Latin American Policy Association.

Carlos O. Souffront, Esq. is Secretary of the Board of Directors, a position he has held since 1996.

From 1988 to 1996, he served on the Board of the Company’s predecessor, Oriental Federal Savings Bank. From January 1, 2008 to December 31, 2020, he served as the Company’s Executive Vice President and General Counsel.

Prior to joining the Company in 2008, 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).