Board of Directors

The Corporation’s directors are selected by virtue of their intellectual, professional and ethical attributes. In addition, they are people that have been outstanding in their respective areas of influence. While there are no formal requirements for joining the board, over and above those established by law, the board has traditionally been made up of professionals and business people not related to the controlling agreement or the Yarur family, with the exception of the Chairman.

Photo Luis Enrique Yarur

Mr. Yarur holds a degree in law from the University of Navarra, Spain, as well as a master’s degree in economics and business administration from the IESE Graduate Business School in Spain.He joined the Bci Board of Directors on October 21, 1991

  • Other current positions
  • • CEO, Empresas Juan Yarur SpA., Empresas JY S.A., Empresas Jordan S.A., and Empresas SB S.A.
  • • Vice-president, Chilean Association of Banks and Financial Institutions (ABIF), Inversiones Belén S.A., and Empresas Lourdes S.A
  • • Member, Business Advisory Board of the ESE Graduate Business School of the University of Los Andes.
  • • Board Member, Center for Public Studies (Centro de Estudios Públicos, CEP).
  • Past positions
  • • CEO of Bci for eleven years
  • • Director de Bci Seguros de Vida S.A. y de Bci Seguros Generales S.A.
  • • Director del Banco de Crédito del Perú – BCP.
Number of votes obtained: 14,999,665

Part of the following committees:
Board’s Executive Committee,
Finance and Corporate Risk Committee,
Innovation and Technology Committee,
Corporate Governance and Corporate Social Responsibility Committee,
Human Resources and Corporate Culture Committee,
Ethics Committee.

Photo Juan Edgardo Goldenberg

Mr. Goldenberg holds a law degree, from the University of Chile. He joined the Bci Board of Directors on January 31, 2018.

  • Other current positions
  • • Tax Law Professor in the Catholic University of Chile and in Universidad de Los Andes.
  • • Partner of Goldenberg & Lagos Abogados Ltda.
  • • Member of the Colegio de Abogados de Chile and of the Tax Commission of such trade association.
  • • Member of the Instituto Chileno de Derecho Tributario and of the International Section of the American Bar Association.
  • • Director, Empresas Copec S.A. and AntarChile S.A.
  • Past positions
  • • Professor of Civil Law at the Catholic University of Chile.
Number of votes obtained: 10,770,035

Part of the following committees:
Finance and Corporate Risk Committee,
Corporate Governance and Corporate Social Responsibility Committee,
Ethics Committee.
 Photo José Pablo Arrellano Marín

Mr. Arellano has a bachelor’s degree in economics from the Catholic University of Chile and a master’s and Ph.D. in economics from Harvard University.He joined the Bci Board of Directors on 16 March 2011.

  • Other current positions
  • • Senior Economist, Latin American Studies Corporation (CIEPLAN).
  • • Professor, Catholic University of Chile.
  • • Board Member, several businesses and social and educational foundations.
  • Past positions
  • • National Budget Director.
  • • Minister of Education.
  • • CEO, Codelco.
  • • Chairman, Fundación Chile.
Number of votes obtained: 10,659,092

Part of the following committees:
Board’s Executive Committee,
Directors’ Committee,
Corporate Governance and Corporate Social Responsibility Committee,
Ethics Committee.

Photo Mario Gomez

Mr. Gómez holds a bachelor’s degree in business administration from the Catholic University of Chile and conducted graduate studies at the University of Los Andes.He joined the Bci Board of Directors on May 24, 2011.

  • Other current positions
  • • Chairman, Administrador Financiero del Transantiago S.A. (AFT)
  • • Chairman, Artikos Chile S.A.
  • • Director, Empresas JY S.A.
  • • Director, Inmobiliaria JY
  • • Director, Central Securities Depository (DCV)
  • Past positions
  • • Chief Financial Officer, Bci
  • • Commercial Director, Bci Commercial Banking Division.
  • • Chairman of the Board, Bci Asset Management Administradora General de Fondos S.A., Bci Asesoría Financiera S.A, Sociedad de Recaudación y Pago de Servicios Limitada (Servipag)
  • • Director, Bci Corredor de Bolsa, Bci Factoring, Bci Securitizadora, Bci Seguros Generales, Bci Seguros de Vida S.A, Bci Corredora de Seguros S.A., and Financiera Solución Peru.
Number of votes obtained: 10,659,193

Part of the following committees:
Board’s Executive Committee,
Finance and Corporate Risk Committee,
Corporate Governance and Corporate Social Responsibility Committee,
Human Resources and Corporate Culture Committee.
Photo Claudia Manuela Sánchez

Ms. Sánchez holds a bachelor’s degree in business administration from Adolfo Ibáñez University and an MBA from Harvard Business School. She joined the Bci Board of Directors on March 22, 2016.

  • Other current positions
  • • Strategic consultant, Director of the Association of Women in Finance, belongs to the Circle of Finance and Business of Icare and participates in the Capital Market Advisory Council.
  • Past positions
  • • Analyst, McKinsey & Co., Buenos Aires.
  • • Consultant in venture capital (London) and later in numerous strategic consulting projects and advising private equity companies in Europe..
  • • She is the first woman who became Dean in Universidad Adolfo Ibáñez (“UAI”), Business School.
  • • Advisory Board Member of the Association of MBAs (AMBA) and the Association to Advance Collegiate Schools of Business (AACSB).
Number of votes obtained: 10,780,588

Part of the following committees:
Board’s Executive Committee,
Innovation and Technology Committee,
Human Resources and Corporate Culture Committee.

Photo Klaus Schmidt-Hebbel

Mr. Schmidt-Hebbel has a Ph.D. in economics from MIT. He earned his bachelor’s and master’s degrees in business administration at the Catholic University of Chile (PUC).He joined the Bci Board of Directors on November 22, 2016

  • Other current positions
  • • Professor, Catholic University of Chile
  • • Chairman, Fiscal Advisory Board of the Chilean government
  • • Consultant and director for numerous national and international corporations, associations, and organizations.
  • • Columnist and speaker.
  • Past positions
  • • Chief Economist, OECD.
  • • Economic Research Director, Central Bank of Chile.
  • • Senior Economist, World Bank.
  • • Chairman, Financial Committee of the Chilean Sovereign Wealth Funds.
  • • General Director, Grupo Res Publica Chile.
  • • President, Economics Society of Chile.
  • • President, Monetary Club.
Number of votes obtained: 11,315,462

Part of the following committees:
Directors’ Committee,
Finance and Corporate Risk Committee.

Photo Hernán Orellana

Mr. Orellana holds a degree in electrical civil engineering from the Federico Santa María Technical University.He joined the Bci Board of Directors on January 24, 2017

  • Other current positions
  • • Director, Highservice S.A., IZIT SpA and Diseño de Servicios UNIT SpA.
  • • Advisor in Innovation and Digitalization.
  • • Board Member, PROhumana.
  • Past positions
  • • Executive Director, Telefónica R&D Center in Chile
  • • Dean, Engineering Department, Universidad Andrés Bello University
  • • CEO, Microsoft Chile.
  • • CEO, Compaq Chile.
  • • Director, CAP S.A., Fashion´s Park S.A., Belltech S.A., IConstruye, among others.
Number of votes obtained: 10,659,093

Part of the following committees:
Innovation and Technology Committee.

Photo Hernán Orellana

He holds a degree in law from the Pontifical Catholic University of Chile.

  • Other current positions
  • • Professor of the Law School of the Pontifical Catholic University of Chile.
  • • Expert professional of the civil service and representative of the Public Senior Management Council in the selection processes of public positions of second hierarchical level.
  • • Director of Corporación Educacional Colegio Árabe.
  • • Director of the Nacrur Abogados Asociados law firm.
  • Past positions
  • • General counsel and authenticating officer of the Chilean Central Bank.
  • • General counsel of Banco Santander-Chile.
  • • Chief attorney of the Superintendency of Banks and Financial Institutions.
  • • Advisor of the Law School of the Pontifical Catholic University of Chile.
  • • Professor of the master’s degree in corporate law of the Law School of the Pontifical Catholic University of Chile.
Number of votes obtained: 13,488,517

Part of the following committees:
Directors’ Committee,
Innovation and Technology Committee,
Human Resources and Corporate Culture Committee.

Photo Jorge Becerra

He holds a degree in industrial engineering from the University of Buenos Aires, Argentina; an MBA from the IESE Business School of the University of Navarra, Barcelona, Spain.He joined the Bci board of directors as of June 23, 2020.

  • Other current positions
  • • Member of the board of directors of TECHO Internacional since 2017.
  • Past positions
  • • Managing Director & Senior Partner of the Boston Consulting Group.
  • • Member of the International Advisory Council of Endeavor Global.
  • • Member of the Advisory Council of Endeavor Chile.
  • • Assistant professor of the financial planning lecture series of the Faculty of Engineering of the University of Buenos Aires.
Part of the following committees:
Board’s Executive Committee,
Finance and Risk Committee,
Innovation and Technology Committee,
Sustainability and Corporate Social Responsibility Committee,
Human Resources and Corporate Culture Committee.





BOARD REMUNERATION

For more information about the Board and its functions, Download Annual Report 2020.



*This declaration of independence only applies for DJSI Index application process, since the Company is governed by the Chilean law rules.

Director/a Luis Enrique Yarur Jose Pablo Arellano Juan Edgardo Goldenberg Claudia Manuela Sánchez Mario Gómez Miguel Angel Nacrur Klaus Schmidt-Hebbel Hernan Orellana Jorge Becerra
Criteria 1 NO OK OK OK OK OK OK OK OK
Criteria 2 NO NO OK OK OK OK OK OK OK
Criteria 3 NO NO OK OK OK OK OK OK OK
Criteria 4 OK OK OK OK OK OK OK OK NO
Criteria 5 NO OK OK OK OK OK OK OK NO
Criteria 6 NO OK OK OK OK OK OK OK OK
Criteria 7 OK NO OK OK OK OK OK OK OK
Criteria 8 OK OK OK OK OK OK OK OK OK
Criteria 9 OK OK OK OK OK OK OK OK OK
Meets all 4 6 9 9 9 9 9 9 7
Meets first 3 0 1 3 3 3 3 3 3 3
Independent NO NO YES YES YES YES YES YES YES


    List of Criteria:
  • 1.- The director must not have been employed by the company in an executive capacity within the last five years.
  • 2.- The director must not accept or have a “Family Member who accepts any payments from the company or any parent or subsidiary of the company in excess of $60,000 during the current fiscal year or any of the past three fiscal years".
  • 3.- The director must not be a “Family Member of an individual who is, or during the past three years was employed by the company or by any parent or subsidiary of the company as an executive officer".
  • 4.- The director must not be (and must not be affiliated with a company that is) an adviser or consultant to the company or a member of the company’s senior management
  • 5.- The director must not be affiliated with a significant customer or supplier of the company.
  • 6.- The director must have no personal services contract(s) with the company or a member of the company’s senior management.
  • 7.- The director must not be affiliated with a not-for-profit entity that receives significant contributions from the company.
  • 8.- The director must not have been a partner or employee of the company’s outside auditor during the past three years.
  • 9.- The director must not have any other conflict of interest that the board itself determines to mean they cannot be considered independent.
    *Aclaracion pago USD$60.000 (Condicion 2). A director who accepted or who has a Family Member who accepted any payments from the company or any parent or subsidiary of the company in excess of $60,000 during any period of twelve consecutive months within the three years preceding the determination of independence, other than the following:
  • (i) compensation for board or board committee service;
  • (ii) payments arising solely from investments in the company’s securities;
  • (iii) compensation paid to a Family Member who is a nonexecutive employee of the company or a parent or subsidiary of the company;
  • (iv) benefits under a tax-qualified retirement plan, or nondiscretionary compensation;
  • (v) loans from a financial institution provided that the loans (1) were made in the ordinary course of business, (2) were made on substantially the same terms, including interest rates and collateral, as those prevailing at the time for comparable transactions with the general public, (3) did not involve more than a normal degree of risk or other unfavorable factors, and (4) were not otherwise subject to the specific disclosure requirements of SEC Regulation S-K, Item 404;
  • (vi) payments from a financial institution in connection with the deposit of funds or the financial institution acting in an agency capacity, provided such payments were (1) made in the ordinary course of business; (2) made on substantially the same terms as those prevailing at the time for comparable transactions with the general public; and (3) not otherwise subject to the disclosure requirements of SEC Regulation S-K, Item 404; or
  • (vii) loans permitted under Section 13(k) of the Act. Provided, however, that in addition to the requirements contained in this paragraph (B), audit committee members are also subject to additional, more stringent requirements under Rule 4350(d).