Congratulations, Fernando Herrera!
Vice President & Director of Retail Channel Lending, Oriental Bank
Early in his career, Fernando Herrera became Oriental Bank’s first management trainee, even before the company had set up a structure for such a program. Fresh out of the University of Notre Dame with a degree in finance, Herrera rotated through virtually every business unit of the bank before settling in the Strategic Planning division, led at the time by now-CFO Ganesh Kumar. “I was willing and did anything that had to be done, and it gave me great exposure to management processes,” Herrera says.
After a few years in that role, Herrera began on a path that has led him through a series of game-changing projects at Oriental, including serving as liaison during a two-year, companywide information systems transition, becoming one of the youngest branch managers in the corporation, and managing the integration of large commercial loan portfolios following the Federal Deposit Insurance Corp.-led acquisition of Eurobank and, later, the acquisition of Banco Bilbao Vizcaya Argentaria’s Puerto Rico operations. “It was very challenging, but you learn more in that kind of environment,” Herrera says.
In his current position, Herrera faces a new challenge: Growing the retail- lending portfolio of a corporation long known for its conservative lending practices. “Uncontrolled growth is not sustainable,” says Herrera, who shares the corporation’s vision to expand through carefully studied acquisitions and superior quality products and services, instead of engaging in price wars with competitors. The strategy appears to be on-point, since Oriental Bank was the only bank on the island to increase its retail market share, by 7%, during the past quarter.
Despite the challenges facing the local economy and banking industry, Herrera is bullish about the island’s long-term prospects. “I hope for a more positive future. There is news everywhere about people leaving the island and a supposed brain drain, but I believe in those of us who are choosing to stay here to make a difference and stay strong,” says the expectant father, who looks forward to leading Oriental Bank “when the time is right.”
Read his interview below.
- Full name: Fernando Herrera
- Date of birth: March 9, 1981
- Place of birth: San Juan
- Education: B.A. in Finance and M.B.A. from University of Notre Dame
- Married to Sasha D. Medina; expecting their first child
- Favorite food/restaurant: Gallo Negro
- Favorite beverage: Coca-Cola
- Favorite place to shop: “Can’t think of one”
- Dream destination: Bali, Galapagos Islands, Patagonia
- Car you drive: Toyota Land Cruiser
- Nightstand reading: “What to Expect When You’re Expecting” by Heidi Murkoff
In 2001, Caribbean Business published for the first time a special supplement in which 40 executives who were 40 years old or younger were recognized as pillars and leaders in the local business community. Fifteen years later, Caribbean Business has kept its objective of motivating young executives to become leaders in their own field.
Only 40 young executives who meet the criteria of being considered pillars and leaders in their business will have the opportunity to become part of an elite group comprising the most influential and powerful young executives in Puerto Rico.
