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Itaú Chile announces changes to the Executive committee of its banking subsidiary in Colombia

1. Itaú Colombia appoints Jorge Villa as new CEO effective March 21. 2. Baruc Saez transitions after five years of leadership at Itaú Colombia. 3. Tatiana Uribe becomes new Vice President of Corporate Banking. 4. New appointments aim to enhance corporate banking segment development. 5. Itaú reaffirms commitment to Colombia's sustainable development.

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Why Neutral?

Leadership changes typically cause minimal stock price fluctuations initially, historically consistent.

How important is it?

Leadership changes can impact strategic direction and investor confidence but lack immediate financial metrics.

Why Short Term?

Immediate reactions to CEO changes may fade, reflecting past instances like Wells Fargo.

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ITAUBBVASantander
March 21, 2025 18:16 ET  | Source: Banco Itaú Chile SANTIAGO, Chile, March 21, 2025 (GLOBE NEWSWIRE) -- BANCO ITAÚ CHILE (SSE: ITAUCL) Itaú Chile today informs about changes in the Executive committee of its banking subsidiary in Colombia. The Board of Directors of Itaú Colombia has appointed Jorge Villa, former Vice President of Corporate Banking, as the new CEO effective March 21, replacing Baruc Saez, who led the bank for five years. Villa's appointment reflects a fundamental principle of Itaú's corporate culture, meritocracy. Jorge Villa has over 27 years of experience in the financial sector. He joined Itaú Colombia in 2011. He holds a degree in Economics and Finance from Babson College and an MBA from the same university. Throughout his career at the bank, he has been known for his focus on results, approachability, and leadership skills. Baruc Saez served as President and CEO of Itaú Colombia for nearly five years. During this period, he achieved significant results in the bank's transformation and consolidation process. He will remain in Colombia until the end of May, working alongside the new president to ensure a smooth and efficient transition. Tatiana Uribe has been appointed as the new Vice President of Corporate Banking, replacing Jorge Villa. Until yesterday, she was the Head of Investment Banking at Itaú Colombia and will now assume the challenge of strengthening the corporate segment. Uribe has over 20 years of experience in the financial world and joined the bank in 2022, during which time she has stood out for her leadership skills and business knowledge. She holds a degree in Finance and International Relations from the Universidad Externado de Colombia and an MBA from Georgetown University. With these appointments, Itaú reaffirms its commitment to the sustainable development of Colombia, contributing to the country with the support, solidity, and experience of the largest bank in Latin America by asset size. Investor Relations – Banco Itaú ChileIR@itau.cl / ir.itau.cl

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