Grupo Supervielle S.A. Separates Chairman and Chief Executive Officer Roles | Financial Buzz

Grupo Supervielle S.A. Separates Chairman and Chief Executive Officer Roles

Grupo Supervielle S.A. (NYSE: SUPV) (BYMA: SUPV),
(“Supervielle” or the “Company”) a universal financial services group
headquartered in Argentina with a nationwide presence, announced today
that it has separated the roles of Chairman of the Board and Chief
Executive Officer. The Board of Directors unanimously appointed Jorge
Ramirez as the Company’s next Chief Executive Officer, effective
September 1, 2018, while Mr. Patricio Supervielle remains Chairman of
the Board.

“I am delighted to announce the appointment of Jorge Ramirez as the
next Chief Executive Officer to lead Grupo Supervielle into the future,”
said Patricio Supervielle, Chairman and CEO of Grupo Supervielle. “By
splitting the roles of Chairman and CEO we are aligning the management
structure to the highest corporate governance standards and focusing the
role of CEO on executing the Company’s Digital Transformation strategy,
driving growth and enhancing efficiency and profitability.”

Mr. Supervielle continued, “Jorge is an excellent leader with the
right combination of deep industry, management and operational
experience who has prepared for over a year for his new responsibilities
arising from this management role separation. We have worked side by
side for seven years and he has participated in every step of the
development of our long-term strategy. As Chairman I will remain
fully dedicated to Grupo Supervielle setting the strategic direction for
long-term success of the business, while supporting Jorge in any way he
may find useful. This continues to be my only business and I look
forward to working with him as he leads the Company into its next phase
of development.”

Mr. Ramirez has over 37 years’ experience in the financial sector. He
joined the Company in 2011 as member of the Board of Directors of Grupo
Supervielle and has served as Executive Vice Chairman of the Board since
2013, as well as Vice Chairman of the Board of Banco Supervielle and
Chairman of the Board of Supervielle Seguros. Previously, he served as
Regional President and Country Manager for Argentina, Uruguay and the
Andean Region at BankBoston. Mr. Ramirez is a Certified Public
Accountant with a degree from the University of Buenos Aires and
Executive Management Program degree (PADE) from ESE.

“It is an honor to lead Grupo Supervielle into the future,”
said Mr. Ramirez. “I am looking forward to my role as Chief Executive
Officer and to continuing my deep personal and professional commitment
to the success of the Company while delivering superior value creation.
We are very excited about the long-term growth opportunity that lies
ahead of us and remain committed to executing on our five-year strategic
plan focused on deepening our operational leverage, increasing share of
wallet of clients, acquiring new clients through tailored propositions
for each of our target segments and enhancing user experience and
loyalty through digital transformation and innovation.”

In his new role, Mr. Supervielle will remain fully dedicated to Grupo
Supervielle and will continue to chair the Company’s Board of Directors
while also working closely with Mr. Ramirez on longer-term strategic
initiatives for the Company. Patricio Supervielle has led the Group in
different capacities since 2002.

In addition, consistent with achieving greater efficiency and
simplicity, the new CEO role will take over the current functions of
COO. Consequently, José Luis Panero will step down from the role of COO
and leave the Company.

“I would like to thank Jose Luis Panero for his significant
contribution and commitment to our Company over the last 16 years. He
has played an important leadership role, first in his capacity as CEO of
Banco Supervielle for over 7 years and later as COO of the Group,
overseeing the development of the successful asset management and
insurance groups and helping us execute our most recent acquisitions of
Mila and We wish him the very best in his new
endeavors,” commented Mr. Patricio Supervielle.

About Grupo Supervielle S.A. (NYSE: SUPV; BYMA: SUPV)

Grupo Supervielle S.A. (“Supervielle”) is a holding company with a
long-standing presence in the Argentine financial system and a
competitive leadership position in certain attractive market segments.
It was founded by the Supervielle family, which took its first steps in
the banking sector in 1887 and is now controlled by Patricio
Supervielle. Its shares are listed in BYMA and NYSE since May 2016.
Grupo Supervielle has developed a multi-brand business model to
differentiate financial products and services offered to a broad
spectrum of individuals, small and medium-sized enterprises and large
companies in Argentina. To date, it is made up of Banco Supervielle,
Cordial Compañía Financiera, Tarjeta Automática, Supervielle Seguros,
Espacio Cordial de Servicios, Supervielle Asset Management, Mila,
InvertirOn-Line and Sofital.

Safe Harbor Statement

This press release contains certain forward-looking statements that
reflect the current views and/or expectations of Grupo Supervielle and
its management with respect to its performance, business and future
events. We use words such as “believe,” “anticipate,” “plan,” “expect,”
“intend,” “target,” “estimate,” “project,” “predict,” “forecast,”
“guideline,” “seek,” “future,” “should” and other similar expressions to
identify forward-looking statements, but they are not the only way we
identify such statements. Such statements are subject to a number of
risks, uncertainties and assumptions. We caution you that a number of
important factors could cause actual results to differ materially from
the plans, objectives, expectations, estimates and intentions expressed
in this release. Actual results, performance or events may differ
materially from those in such statements due to, without limitation, (i)
changes in general economic, financial, business, political, legal,
social or other conditions in Argentina or elsewhere in Latin America or
changes in either developed or emerging markets, (ii) changes in
regional, national and international business and economic conditions,
including inflation, (iii) changes in interest rates and the cost of
deposits, which may, among other things, affect margins, (iv)
unanticipated increases in financing or other costs or the inability to
obtain additional debt or equity financing on attractive terms, which
may limit our ability to fund existing operations and to finance new
activities, (v) changes in government regulation, including tax and
banking regulations, (vi) changes in the policies of Argentine
authorities, (vii) adverse legal or regulatory disputes or proceedings,
(viii) competition in banking and financial services, (ix) changes in
the financial condition, creditworthiness or solvency of the customers,
debtors or counterparties of Grupo Supervielle, (x) increase in the
allowances for loan losses, (xi) technological changes or an inability
to implement new technologies, (xii) changes in consumer spending and
saving habits, (xiii) the ability to implement our business strategy and
(xiv) fluctuations in the exchange rate of the Peso. The matters
discussed herein may also be affected by risks and uncertainties
described from time to time in Grupo Supervielle’s filings with the U.S.
Securities and Exchange Commission (SEC) and Comisión Nacional de
Valores (CNV). Readers are cautioned not to place undue reliance on
forward-looking statements, which speak only as the date of this
document. Grupo Supervielle is under no obligation and expressly
disclaims any intention or obligation to update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise.

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