Santiago, February 28, 2018.

 

Yesterday, the Board of Directors unanimously agreed to name the current Chilean Country Head of Grupo Santander and Chief Executive Officer, Claudio Melandri H., as the new President of the Board of Directors. This decision was made after the resignation of Mr. Vittorio Corbo, which was announced yesterday afternoon through the material event sent to the Superintendencia de Bancos e Instituciones Financieras (SBIF) and the SEC.

 

Claudio Melandri will assume the Presidency of the Board starting March 1 of the current year to replace Vittorio Corbo, who had undertaken this role since April 23, 2014. Claudio Melandri will continue as Country Head of Grupo Santander in Chile.

 

The Board would like to thank Mr. Corbo for his contribution during these years, and welcomes Claudio Melandri as the new President. This designation implies a change in the corporate governance of Banco Santander - Chile, but will not have an effect on executive responsibilities. The Board is assured that Claudio Melandri will continue to lead the Company as he has done in the past, consolidating growth and good governance and sustainability policies.

 

Claudio Melandri, with more than 30 years' experience within the financial industry, started his career in Banco Concepción and in 1990, joined Grupo Santander, where he has occupied various roles of responsibility throughout the years. These include Regional Manager, Branch Network Manager, Manager of Human Resources and Commercial Bank Manager. He was also Executive Vicepresident of Banco Santander in Venezuela for three years, where he formed the commercial division of this bank. In January 2010, Mr. Melandri was named Chief Executive Officer of Banco Santander - Chile, and became Country Head of Grupo Santander in 2011.

 

Miguel Mata H., currently Deputy Chief Executive Officer of Santander - Chile, will replace Claudio Melandri as Chief Executive Officer. Mr. Mata has been working in the banking industry since 1990. He formed part of Banco O'Higgins, which later merged with Banco Santiago, where he was Financial Controller. He joined the Bank in 2002, as part of the merger of Banco Santiago with Banco Santander, where he has occupied different roles related to the business strategy of the organization. Currently, he is also President of Santander Asset Management S.A. Administradora General de Fondos, and Director of Santander Consumer.

 

For the past ten years, Claudio Melandri and Miguel Mata have led the management team, consolidating Banco Santander - Chile as one of the most important companies in the country.