Juan Carlos Chomalí takes over as president of AFP Capital

Juan Carlos Chomalí takes over as president of AFP Capital

Santiago, Monday, April 29, 2019.- After the ordinary shareholders' meeting held on Monday, April 29, in the extraordinary Board of Directors, Juan Carlos Chomalí Acuña was elected as the new Chairman of AFP Capital for the next three years.

Likewise, during the ordinary shareholders' meeting, Guillermo Arthur Errázuriz, Claudio Skármeta Magri, Germán Concha Zavala, Álvaro Restrepo Salazar, and alternate directors María Magdalena Aninat Sahli and Catalina Mertz Kaiser were confirmed as directors for the next period.

Juan Carlos Chomalí holds a business administration degree from The Pontificia Universidad Católica de Chile and an MBA from Adolfo y Ibáñez University and University of Deusto in Spain. For the last four years, he served as country head of the Santander Group in Uruguay, where he arrived in 2012 to take over as the general manager of Banco Santander. He was president of the Electronic Stock Exchange, president of the Association of Private Banks and Board member at Zurich Seguros.

Juan Carlos Chomalí participated in the pension industry between 1995 and 1999 as commercial manager of Bansander AFP, the same company merging with AFP Capital in 2008.

Before leaving for Uruguay, he held various positions at Santander Group in Chile. He was corporate director of internet business, corporate director of clients and quality, director of branch network and commercial director and general manager of Banefe, a position he held at the time of taking over the new responsibilities in Uruguay.

After the appointment, Jaime Munita, general manager of AFP Capital, said: "We are favorably disposed to the arrival of Juan Carlos Chomalí. He has a lot of experience not only in the national market, but in foreign markets as well. He worked in the world of pensions, so we believe that he will play an exceptional role in what we project for future of AFP Capital ".

As stated during the Meeting, the AFP Capital Vice Chairman, Guillermo Arthur, highlighted some achievements and advances of the managing company during 2018. "The main focus of AFP Capital is the affiliate, which is why we want to highlight the progress of our  Plan de Cercanía, in which technology played a key role as more than 6 thousand people got connected to our interactive streamings; while our virtual assistant, Robotina, managed to contact more than 450 thousand affiliates. In addition, access to the private website increased by 14% with respect to the previous year," remarked Arthur.

Additionally, the vice chairman mentioned that they are aware that the constant decline in the profitability of the markets directly impacts the pensions of people, and he stressed that one of the main milestones was having closed 2018 with the best profitability in four of the five multifunds, in addition to having been the first AFP to approve its investment policy in alternative assets.
On the other hand, he emphasized the commitment of the company with its different stakeholders through its Financial and Pension Education Plan, which has three focuses: Employers, Youth and Women, with concrete actions of awareness on the saving and construction of the pension proactively.

"We will continue to work during 2019 in a strategy that allows us to consolidate as the AFP with the best profitability, and focusing all our efforts to continue to accompany our affiliates more closely in the construction of their pension. We also hope to continue to contribute to the debate on the Pension Reform, which, I hope, will soon be materialized in better pensions for Chileans and that respond specifically to the demands of an aging country that is receiving pensions, on average, lower than  expected," he said when he closed the session

About AFP Capital
AFP Capital is a company of SURA Asset Management Chile, a company operating in the pension, life insurance, mutual funds and stocks markets. AFP Capital has 1.7 million clients and manages USD 40 billion in assets. It is present in 30 cities throughout the country and, additionally, is the only AFP present in Easter Island.

About SURA Asset Management Chile
SURA Asset Management is a subsidiary of SURA Group, expert in Pensions, Asset Management, Savings and Investments and present in Mexico, Peru, Chile, Colombia, Uruguay and El Salvador. As of December 2017, SURA Asset Management’s AUM amounts to USD$134.9 billion owned by 18.8 million customers.

* Customers and AUM include AFP Protection in Colombia and AFP Crecer in El Salvador, although not controlled companies, SURA AM has a significant stake.