Lima, PERU, September 26th, 2013 - Credicorp (NYSE: BAP) Board of Directors, in its session held on September 25th, 2013, agreed to accept the resignation of Mr. David Saettone, Credicorp's Chief Insurance Officer and CEO of Credicorp's subsidiary Pacifico Peruano Suiza (PPS), and appointed in his place Mr. Alvaro Correa, who currently holds the position of Chief Financial Officer of Credicorp Ltd. and Banco de Credito del Peru (BCP).
Mr. Alvaro Correa will take over his new responsibilities as CIO of Credicorp and CEO of PPS as of October 1st, 2013.
Mr. Alvaro Correa has recognized credentials since he has been Chief Financial Officer for Credicorp and BCP since April 2008 leading the organizations through some challenging times. He also oversees Credicorp's international subsidiaries and branches. Mr. Correa is an industrial engineer from the Pontificia Universidad Catolica del Peru and holds a Master's degree in Business Administration from Harvard Business School. Mr. Correa also has Series 7 and Series 24 certifications in the United States. In 1997, he joined BCP as Retail Risk Manager, later serving as IT Solution Manager under the Systems and Organization Division. From 2006 to 2008, Mr. Correa served as General Manager of ASB, Credicorp Securities and BCP's Miami agency. He currently is Chairman and CEO of Solucion-EAH and Director of Edyficar and Prima AFP.
In the same session, the Board of Directors of Credicorp also decided to name Mr. Fernando Dasso as Mr. Correa's replacement and appointed him as new Chief Financial Officer of Credicorp and BCP, effective as of the same date.
Mr. Fernando Dasso holds a BA in Business from Universidad del Pacifico in Lima, Peru and an MBA from Wharton School of Business, Pennsylvania, USA. He started his professional career with McKinsey & Co. in Madrid, Spain in 1992. Mr. Dasso joined Banco de Credito del Peru in the year 1994 as a member of the Corporate Finance team within the Corporate Banking Division. During his career he has been engaged in various responsibilities in BCP including Marketing & Retail Product Development, Development and Management of the Branch Network, Internet Banking and Corporate Finance. He was responsible of the development and launching of ViaBCP (the web base Internet Banking), which is now the channel that concentrates 48% of the average monthly number of transactions of the bank. In his recent position, Mr. Dasso has led the development of Credicorp's investment and expansion strategies and has coordinated and been an integral part of the negotiations that led to the recent acquisitions in Chile and Colombia. Mr. Dasso is currently the General Manager and Board Member of Grupo Credito (a subsidiary of Credicorp that groups several of Credicorp's smaller investments in Peru) and board member of several of Credicorp's subsidiaries, such as Prima AFP (Pension Fund Administrator) and of our Microlending Business arm, Financiera Edyficar. He is also a Board Member of Tarjeta Naranja Peru and Willis Peru and actual CSO of BCP, the leading bank in the Peruvian market.
These changes are aimed at ensuring the continuation and proper execution of Credicorp's strategies in the whole of the organization, and given the proven excellent track record of both, Mr. Correa and Mr. Dasso, we are confident they will contribute to Credicorp's future results.
Credicorp Ltd. (NYSE: BAP) is the leading financial holding in Peru. It is composed of Banco de Credito del Peru (BCP), Atlantic Security Holding Corporation (ASHC), Grupo Pacifico Seguros and Prima AFP, which are among Peru's top-rated brands. Credicorp is mainly involved in banking (including commercial and investment banking), insurance (including property and casualty, life and health insurance), pension funds (including private pension fund management services) and brokerage services (including trust, custody and securitization services, asset management and proprietary trading and investment).
For further information please contact the IR team: IRCredicorp@bcp.com.pe