Mr. Álvaro Jaramillo was appointed member of our Board of Directors on January 25, 2018. He is Citi Country Officer (CCO) Colombia and Latin America North Region Head since January 2017.
Previously, Álvaro was Central America & Caribbean Cluster Head. The 14 countries under his responsibility included: Bahamas, Barbados, Cayman Islands, Costa Rica, Dominican Republic, El Salvador, Guatemala, Haiti, Honduras, Jamaica, Nicaragua, Panama, Puerto Rico, and Trinidad & Tobago where Citi has a physical presence.
Before, he served as Chief Administrative Officer and Treasurer for Latin America, where he managed several functions including Compliance, Efficiency, Strategy, as well as Public Affairs and Government Relations. In January 2009, he was named Citi Country Officer for El Salvador, and in this position, he was responsible for the corporate, consumer, credit card, insurance and mutual funds businesses for the country.
Mr. Jaramillo started his career with Citi Colombia in 1990 as Head of the Fixed Income Trading Group. Later on he assumed the responsibility over the fiduciary business and then became Country Treasurer at the age of 27, the youngest country treasurer at the time. During his tenure Citi Colombia achieved several milestones including the following: largest FX market maker in the country, first to introduce FX forwards and options and leader in the category, largest government fixed income dealer, largest securities custodian and consolidated the banks leadership in marketing of financial instruments. He also launched Citivalores and established an important position in equity trading, underwriting and fixed income brokerage.
In 1997 he became Treasurer of Citi Puerto Rico and Regional Treasurer of the LATAM Eurodollar book. Jaramillo assumed the role of Country Corporate Officer for Puerto Rico in 2000. In this position he was responsible for the corporate businesses of Citi in that country plus managing the franchise aspects which included Smith Barney, Citibank, Citicapital, Primerica, Citicards and Citifinancial. During his tenure EBIT was increased more than threefold and successfully managed the transition and reconversion of the bank after the sale to Banco Popular. In 2008, he was appointed Director of Corporate Banking for Central America.
Mr. Jaramillo was distinguished with several distinctions, among them Executive of the Year in Colombia (1995) by Portafolio, the leading business journal in the country. He was treasurer of United Way Puerto Rico and Vice-president of the Puerto Rico Bankers Association for two years.
Álvaro Jaramillo has a Bachelor of Business Administration degree from Colegio de Estudios Superiores de Administración in Bogotá, Colombia and took finance courses at University of Wisconsin- Madison.