Financiera Independencia Names Chief Financial Officer

Jun 22, 2010, 13:55 ET from Financiera Independencia, S.A.B. de C.V., SOFOM, E.N.R.

MEXICO CITY, June 22 /PRNewswire-FirstCall/ -- Financiera Independencia, S.A.B. de C.V., SOFOM, E.N.R. (BMV: FINDEP) ("Independencia" or the "Company"), a leading Mexican microfinance lender of personal loans to lower income segment individuals and working capital loans through group lending microfinance, announced today that effective June 30, 2010 Didier Mena Campos will step down as Chief Financial Officer ("CFO").  Mr. Mena has decided to return to his investment banking career.

"Mr. Mena has been a valuable member of our team and we would like to thank him for his contribution as CFO for the past two years, and we wish him well in his future career endeavors," said Mr. Noel Gonzalez, Chief Executive Officer.  

Mr. Luis Miguel Diaz-Llaneza Langesscheidt will join Financiera Independencia as CFO starting July 1, 2010.  "Mr. Diaz-Llaneza is an accomplished executive with extensive experience in the financial and tourism industries, holding senior positions as CEO of Global Go (Grupo Posadas and Mexicana de Aviacion joint-venture) and at the same time as CEO and founder of Ampersand Soluciones de Lealtad (also a Grupo Posadas company), and formerly as Regional Vice President Latin America and the Caribbean for American Express Establishment Services," concluded Mr. Gonzalez.

Mr. Diaz-Llaneza holds a master's degree in business administration from Georgetown University and a bachelor of science degree in business administration from Trinity University.

About Financiera Independencia:

Financiera Independencia, S.A.B. de C.V., SOFOM, E.N.R. (Independencia), is a Mexican microfinance lender of personal loans to individuals and working capital loans through group lending microfinance. Independencia provides microcredit loans on an unsecured basis to individuals in the low-income segments in Mexico in urban areas of both the formal and informal economy. As of March 31, 2010, Independencia had a total outstanding loan balance of Ps.5,403.6 million, operated 369 offices in Mexico and Brazil and had a total labor force of 11,460 people. The Company listed on the Mexican Stock Exchange on November 1, 2007, where it trades under the symbol "FINDEP". On November 30, 2009 Independencia launched a sponsored Level I American Depositary Receipt (ADR) program in the United States. Each ADR represents 15 shares of Independencia common stock and trades over-the-counter (OTC). More information can be found at www.independencia.com.mx

Some of the statements contained in this press release discuss future expectations or state other forward-looking information. Those statements are subject to risks identified in this press release and in Financiera Independencia's filings with the Mexican Stock Exchange. Actual developments could differ significantly from those contemplated in these forward-looking statements. The forward-looking information is based on various factors and was derived using numerous assumptions. Our forward-looking statements speak only as of the date they are made and, except as may be required by applicable law, we do not have an obligation to update or revise them, whether as a result of new information, future or otherwise.

SOURCE Financiera Independencia, S.A.B. de C.V., SOFOM, E.N.R.



RELATED LINKS

http://www.independencia.com.mx