Panelist: Gabriel Manjarrez
| Gabriel Manjarrez Co-founder, EVP Progress Financial Corp (Progreso Financiero) Gabriel Manjarrez is a co-founder of Progress Financial, a financial services firm focused on providing unsecured consumer loans to the unbanked and underbanked Hispanic community. The loans are originated, underwritten, serviced and collected entirely through Progress Financial and its proprietary systems and processes. All customer interactions and documentation are in Spanish. The target population for the service is the large segment of the Hispanic market for which traditional unsecured consumer credit facilities are unavailable and/or usuriously expensive. Progress Financial started loan operations in March 2006, with current results far outpacing demand and repayment projections. Before founding Progress Financial, Gabriel was Senior Vice President, National Hispanic Segment Executive at Bank of America in Charlotte, NC. He was responsible for developing and overseeing the execution of the company’s Hispanic marketing, sales and retention strategies across all the consumer product groups, which included Deposits (checking and savings), Card Services (credit and debit), e-Commerce, Remittances, Insurance, and Consumer Real Estate. As overall segment leader he also drove national Hispanic employee hiring strategies across the 6,000+ retail branch network, as well as product development, service and fulfillment, and other initiatives that impacted the bank’s Hispanic consumer market acquisition. He was directly responsible for setting and overseeing the bank’s Hispanic consumer account sales and retention goals, with over $30m in annual marketing investing, as well as additional ongoing related technology and research spending. Hispanic customer acquisition at Bank of America grew 5-fold during Gabriel’s tenure as segment leader. Gabriel was also actively involved with the Bank’s efforts at promoting financial services access to all sectors of the population. He testified before the U.S. Congress on behalf of the Bank on the subject of helping bring financial services to the unbanked and underserved communities. Before joining Bank of America in early 2003, he was founding managing director for RedLatino, Inc., a Hispanic-focused subsidiary of Redf, one of the largest marketing services and marketing strategy firms in the southeastern United States. There, he helped financial services clients develop and execute key Hispanic marketing strategies for checking, debit cards, money remittances and mortgages. In 1995 Gabriel founded and managed Cendant’s Latin American operations, which he subsequently sold to a marketing firm in Mexico City. Gabriel began his career in the early 1990s as a consultant for McKinsey & Company, Inc., serving clients in Mexico and India. Gabriel is a Board Member of Club Arca, a CA-based successful venture targeting the Hispanic consumer in the US with a value-added membership program. He enjoys Southeast Asian cooking, traveling, snow skiing, water skiing and scuba diving. |
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