Grupo Famsa de CV : announces the appointment of Mr. Jesus Muguerza Garza as new CEO of Banco Ahorro Famsa
July 26, 2018 at 08:27 pm EDT
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GRUPO FAMSA ANNOUNCES THE APPOINTMENT OF MR. JESUS MUGUERZA GARZA AS NEW CEO OF BANCO AHORRO FAMSA
Monterrey, N.L., Mexico, July 26th, 2018 - Grupo Famsa, S.A.B. de C.V. (BMV:GFAMSA) ("The Company" or "Grupo Famsa"), a leading Mexican commercial conglomerate in the retail, consumer and savings sector, announces to the investing public the appointment of Mr. Jesus Eduardo Muguerza Garza as Chief Executive Officer of Banco Ahorro Famsa, S.A. Institución de Banca Múltiple ("BAF"). Mr. Muguerza was engaged in BAF as Head of Commercial Banking, mostly serving to SMEs since January 2015.
Mr. Muguerza has a solid background of more than 30 years in the financial and retail sector executing a number of high-responsibility senior positions in prestigious financial institutions in Mexico, outstanding the following: Corporate and Multinational Banking Director and Commercial Director of the Northern Region of Grupo Financiero Banorte; SVP of Retail and Consumer Banking of Grupo Financiero Afirme; and, Commercial Director of Banco Multiva.
The appointment of Mr. Muguerza takes place amid the execution of the Company's strategy aimed to strengthen its institutional framework, thus seeking to consolidate a most efficient and profitable operation.
About Grupo Famsa
Established in 1970 in Monterrey, Nuevo Leon, Grupo Famsa has consolidated its position as a publicly-traded company with a solid presence in the retail sector, focusing its efforts on satisfying families' diverse consumption, financing and savings needs. Its target market is in the Mexican low-middle income households and the Hispanic population of the states where it operates in the USA. Retail sales of Grupo Famsa in Mexico comprise furniture, electronics, appliances, mobile phones, computers, motorcycles, clothing and other durable goods, which are mainly sold within the stores network of Grupo Famsa. In Texas and Illinois, in the USA, Grupo Famsa's offering comprises furniture, electronics, appliances, computers and other durable goods through the operation of its subsidiary Famsa, Inc.
Grupo FAMSA SAB de CV published this content on 26 July 2018 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 27 July 2018 00:26:08 UTC
Grupo Famsa SAB de CV is a Mexico-based holding company primarily engaged in retail sector. The Company owns and operates a network of Famsa Mexico department stores located in Mexican cities, as well as Famsa USA stores established in the United States. Via its retail network, the Company is active in the import, distribution and sale of household appliances, furniture and consumer electronics, among others. Through Banco Ahorro Famsa SA Institucion de Banca Multiple, the Company is also involved in the provision of a variety of banking and sales financing services to its retail customers.
GRUPO FAMSA, S.A.B. DE C.V. 
