President Michelle Bachelet established the new Executive Committee of BancoEstado
Appointments have been informed through the Ministry of Finance, the new Executive Committee is composed by the following members:
Rodrigo Valdés Pulido, acting as Chairman, Guillermo Larraín Ríos as Vice-Chairman, and Jessica Lopez Saffie as Chief Executive Officer.
The new Chairman of the Board of Directors and Executive Committee of BancoEstado is a graduate and former professor of the University of Chile, majoring in Economics, and has Ph.D. in Economics granted by the MIT. As an economist, he has extensively issued different publications on economic-related matters.
Mr. Valdés acted as deputy Director of the European Department and of the Americas Department (2009-2012) at the International Monetary Fund (IMF), where he was also Head of Mission for the United States. In 2008, he was chief economist for Latin America at Barclays Capital (2008-2009), and since 2002 he acted as manager and Chief Economist of the Central Bank’s Research Division in Chile (2002-2007). Likewise, he acted a major advisor of Chile’s Minister of Finance in 2000-2001.
At the time of his appointment, he served as chief economist for the Andean Region in BTG Pactual.
Mr. Guillermo Larraín Rios, appointed as Vice-Chairman, is an economist graduated at the Catholic University of Chile, and has a Ph.D. in Economics granted by the Ecole des Hautes Etudes en Sciences Sociales in Paris. He is a professor in the Department of Economics at the University of Chile, where he chairs the Microfinance Regulation and Stability Centre. He has also been a professor in the Department of Industrial Engineering at the University of Chile, at the Institute of Economics of the Catholic University and at the Universidad Torcuato di Tella in Buenos Aires, Argentina.
He is part of the Advisory Council of the International Finance Corporation (IFC) and the Advisory Council of the Securities and Commodities Authority of the UAE (ESCA). Likewise, He is member of the Board of Tanner Financial Services and of the Advisory Board of the Investment Fund Efromovich Silva, located in Bogotá, Colombia.
Between 2007 and 2010 Mr. Larraín acted as Superintendent of Securities and Insurances (SVS) of Chile and Chairman of the Emerging Markets Committee of the International Organization of Securities Commissions (IOSCO). Between 2003 and 2006, he led the Superintendency of AFPs (Pension Funds Managers) and between 1997 and 2000 he acted as coordinator of the Economic Policy at the Ministry of Finance. He acted as well as head of studies and chief economist of BBVA Chile (2000-2003).
Finally, the new CEO, Ms. Jessica López Saffie -B.A. in business with a major inEconomics granted by the University of Chile -has 30 years’ experience in financial institutions. She worked in BancoEstado from 1990 to 2010, where he held the positions of Risk Manager, Comptroller and Vice-Chairman.
In recent years Ms. López has served as consultant in the IDB, as Director of different companies, and as advisor for corporates and executives. Between 1981 and 1990 she worked at the Banco del Desarrollo (now Scotiabank).