Grupo Financiero Santander Mexico And Banco Santander Mexico Propose Changes To Their Boards Of Directors And CEO

Aug 12, 2015, 17:35 ET from Grupo Financiero Santander Mexico, S.A.B. de C.V.

MEXICO CITY, Aug. 12, 2015 /PRNewswire/ -- Grupo Financiero Santander Mexico, S.A.B. de C.V. (BMV: SANMEX; NYSE: BSMX) ("Grupo Santander Mexico" or "the Group") and Banco Santander (Mexico), S.A. Institucion de Banca Multiple, Grupo Financiero Santander Mexico ("Banco Santander Mexico" or "the Bank"), announced today, that in light of the decision of Carlos Gomez y Gomez, Chairman of the Board of Directors, to retire as he turns 65, they have agreed to convene a meeting of their Boards of Directors on August 24th, 2015 to consider the proposals to appoint Mr. Marcos Martinez Gavica as Chairman of the Board and Mr. Hector Grisi Checa as Executive President and CEO, subject to applicable regulations.

Carlos Gomez y Gomez has expressed his intention to retire after 18 years of committed and strategic leadership as Chairman since the Group's inception, more than 18 years ago. Mr. Marcos Martinez Gavica will be proposed as his successor as Chairman beginning January 1, 2016, having been Executive President and CEO of the Group and the Bank. The Board will also consider the appointment of Mr. Hector Grisi Checa as new Executive President and CEO of the Group and the Bank, replacing Mr. Marcos Martinez Gavica from December 1, 2015.

Marcos Martinez Gavica said "The proposal that will be submitted to the Board, marks a new stage for the Group to consolidate its leadership position in the Mexican financial services sector. We continue to strengthen our presence in key businesses for the group, ensuring the best corporate governance standards in Mexico, with a committed board of directors which is solid and transparent to ensure the interests of our employees, customers, shareholders and communities."

Hector Grisi Checa has served for seven years as CEO of Credit Suisse Financial Group Mexico and has 28 years' experience in the Mexican financial system. Hector Grisi said "Should the Board of Directors support this proposal, it will be a great pleasure to join an institution with the strength and leadership of Santander Mexico. I will work to lead a consolidated business and bring my experience to continue building the best banking franchise in Mexico."

About Grupo Financiero Santander Mexico Grupo Financiero Santander Mexico, S.A.B. de C.V. (Santander Mexico), one of Mexico's leading financial services holding companies, provides a wide range of financial and related services, including retail and commercial banking, securities brokerage, financial advisory and other related investment activities. Santander Mexico offers a multichannel financial services platform focused on mid- to high-income individuals and small- to medium-sized enterprises, while also providing integrated financial services to larger multinational companies in Mexico. As of June 30, 2015, Santander Mexico had total assets of Ps.1,065 billion under Mexican Banking GAAP and more than 12 million customers. Headquartered in Mexico City, the Company operates 1,078 branches and 278 offices nationwide and has a total of 16,768 employees.

SOURCE Grupo Financiero Santander Mexico, S.A.B. de C.V.