Fernando L. Batlle

CEO & Vice Chairman-Santander Securities, LLC (2011-2016) Full P&L responsibility for eastern U.S. retail broker-dealer. Grew business from one office to 640 registered representatives, $11 billion in assets under management (AUM) and $65 million in revenues with operations in Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania, Rhode Island, Connecticut, Miami and Puerto Rico. Responsibilities included sales, product management, capital markets, investment banking, operations, compliance, legal, financial and risk management. Vice Chairman-Santander Asset Management (2011 – 2014) Vice Chairman of the Board of Directors of Santander Asset Management, Puerto Rico’s second largest asset manager, with AUM of $3.5 billion. Chairman of the Board, First Puerto Rico Family of Funds.

Senior member of Governor’s fiscal and economic team responsible for design and implementation of major public policy initiatives, including cornerstone Fiscal and Economic Reconstruction Plan. Member of Executive Committee and Asset-Liability Committee. Chairman of public/private partnership committees responsible for Airport, Water and Energy concessions. Reported to Chairman & CEO.

• Designed and structured the development of mixed used real estate project in Dominican Republic. • Established customer acquisition sales center in Puerto Rico for a leading online marketing company. • Provided financial advisory services to leading clinical laboratory company.

Executive Vice President (1997 – 2005) Member of senior executive team overseeing several business units with over $35 million in annual profits and 1,100 employees. Reported to Chairman & C.E.O. Member of Credit, Asset/Liability Management, Information Technology and Risk Management Committees. President, C.O.O. and Board member of FirstMortgage, First Express, First Trade and First Insurance Agency VI. Member of Board of Directors of First Leasing and Rental Corporation, Money Express, FirstBank Insurance Agency, Inc. and FirstBank Overseas Corp.

Completed successful turnaround of second largest consumer finance company in PR by restructuring business model, including pricing, automation of credit process, reengineering of collections function, and optimization of branch network. Returned company to profitability in under three years. Sales and Distribution • Responsible for management of 46-store branch network with total deposits of approximately $1.8B. Increased deposit business amidst intense local competition and limited organic market growth. • Spearheaded sales and service transformation, utilizing Cohen-Brown behavioral sales culture methodology. • Implemented reengineering project, resulting in annualized cost reductions of more than $5M. • Implemented investment product referral program in partnership with UBS Financial Services, increasing assets under management while keeping deposit attrition to a minimum. Eastern Caribbean Region Designed and implemented strategies to increase market position from $50M in assets and two branches in 2002 to $1B in assets and 12 branches in 2005, becoming the largest full-service bank in the Virgin Islands. Achieved growth through a combination of acquisitions and organic initiatives. Grew business profitability from break-even level in 1998 to $17M in annual profit by 2005. Mortgage Banking Group As President, COO, and Founder, increased mortgage production from $77M in 1998 to $720M in 2004, becoming fourth largest mortgage banking firm in Puerto Rico with 29 mortgage origination offices. Mergers and Acquisitions Successfully completed and integrated six acquisitions totaling $1.5B in assets. Led all aspects of transactions, from price negotiation to operational integration.

Completed issuance of first asset-backed security and subordinated debt issues sold in U.S. capital markets by a P.R. financial institution. Implemented successful trading and options program and established First Bank’s international banking entity.

As Managing Director, identified, researched, structured and negotiated private equity investments in the manufacturing, telecommunications and outdoor advertising industry.

Assistant Vice President/Assistant to the President for a Major mortgage banking firm in Puerto Rico. Assisted President in general management of company. Executed management buyout of company from MetLife in 1991.