Progreso Financiero Names First COO and CFO
As It Positions For Growth
Innovative Financial Services Provider to the Underserved Hispanic Community
Hires Tomlinson, Coblentz
MOUNTAIN VIEW, CA (Sept. 9, 2009) -- Progreso Financiero, an innovative, socially responsible financial services company that helps Hispanics build credit and gain access to mainstream financial products, announced today it has hired Dave Tomlinson as Chief Operating Officer and Jonathan Coblentz as the Chief Financial Officer, two key executive positions that will strengthen Progreso for anticipated growth.
"We are excited to welcome Dave and Jonathan to our management team," said James Gutierrez, CEO of Progreso Financiero. "Both bring deep industry experience and will prepare us for a period of rapid and sustainable growth."
Mr. Tomlinson has more than 20 years of experience working with leading financial services companies, most recently as Executive Vice President and Chief Marketing Officer at Providian Financial/Washington Mutual Card Services where he was responsible for rapidly expanding the customer base and managing more than $6 billion in revenue production on a $28 billion credit card portfolio. Prior to Providian, Mr. Tomlinson held senior management positions at JP Morgan Chase and PNC National Bank, and spent the first ten years of his career at American Express.
"Progreso has a unique ability to improve the lives of hard working Hispanic families by giving them access to fair credit and other mainstream financial products," said Tomlinson. "I am eager to come on board and help drive the company's growth as Progreso expands to serve millions of customers in the financially underserved Hispanic community in the U.S."
Mr. Coblentz brings more than 16 years of experience in the consumer finance industry. Prior to joining Progreso, Mr. Coblentz served as the Chief Financial Officer and Treasurer for MRU Holdings, a publicly-traded student loan finance company, where he established the company's securitization program and expanded and renewed the company's credit lines during the credit crisis. Prior to joining MRU, Mr. Coblentz was a Vice President at Fortress Investment Group, and held advisory and principal roles at Goldman Sachs and First Boston for 12 years.
"What attracted me to Progreso was the responsible structure of their lending products and innovative risk scoring models that allow the company to fairly serve the needs of the Hispanic underbanked audience," said Coblentz. "Progreso is in a unique position to drive extraordinary growth . I am excited to be on board to help drive the company through this next chapter."
About Progreso Financiero
Progreso Financiero is an innovative, socially responsible financial services company that helps Hispanics build credit, move up the financial ladder, and achieve their lifelong aspirations. Not having a credit record in the United States is like not having a face, not having an identity. At Progreso, we provide opportunity to the 20 million Hispanics in the US who deserve access to mainstream financial services. We built our proprietary scoring system using hundreds of traditional and non-traditional data points to make fast, fair and responsible credit decisions that others can't make. We engage our customers where they are: In their neighborhoods, in their language, and with familiar faces from the community, to create a bond of trust. By investing in our customers' prosperity today, Progreso will revolutionize the financial services industry and transform millions of lives forever. For more information, visit: www.progressfin.com.
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