He Bank Supervision hired a global executive search firm to find a new CEO. The fact is that, after four years at the helm of the organization and 14 as director, Alejandro Stengel will leave his position at the end of the year. The entity has framed the executive’s departure in a new phase in which it promotes a digital transformation process.
Banking is on a path of concentration. In less than six months, the sales of Itaú to Macro and of HSBC to Galicia were closed. And everyone assures that Supervielle and also Banco Patagonia have the for sale sign.
The entity driven by Patricio Supervielle, the main shareholder, ranks 12th in the financial system second by the Central Bank for loans and deposits and 13th for assets. It has 136 branches, 2,052,265 savings accounts and 39,764 current accounts e employs 3,257 people.
After the announcement of Stengel’s exit, this Friday on Wall Street the ADRs of the Supervielle Group, the company that controls the bank, fell by 4.33%, to 5.75 dollars, a market capitalization of $671 million.
“Supported by a strong capital position with a Tier1 ratio of 21% in December 2023, at very healthy wallet quality and with a platform for growth, I believe the bank is in an excellent position to seize future opportunities,” Stengel said in the stock exchange statement announcing his retirement.
He added: “I will remain focused on continuing to drive the growth trajectory of the bank until the end of my tenure ensure a successful transition with my successor“.
For his part, Patricio Supervielle, president and CEO of Grupo Supervielle, thanked Stengel for “his commitment to collaborating for a smooth transition.”
“Looking to the future, I am excited about what will happen to Banco Supervielle, its ecosystem and their alliances in the coming years. I am optimistic about the future of our countrystrengthening our franchise and achieving our strategic goals as a driver of economic development in all the communities we interact with,” he concluded.
Source: Clarin
