Interview with Raul Baltar Estevez

CEO Banco Exterior

There is a bit more optimism about the economy’s evolution over the next 12 months and... over the following years. These past few years have been complicated. The negative economic cycle that we’ve been undergoing, as a result of the financial crisis that became an economic crisis and, I think, finally, even a social crisis, is beginning to end.

Many companies still think that when things change from an economic point of view and everything is fine again, they’ll be able to operate in the same way. I don’t believe that this will be the case.

We increasingly need leaders within an organisation. The time of single leadership is over... We need to have horizontal hierarchies and share responsibilities – but those responsibilities should cooperate with one another.

All companies urgently need innovation. Innovation is not a fad; it is not about ‘innovation week’. You innovate every single day when you realise that you can improve a process.

I think that the government’s top priority, at least in connection with the banking sector, should be to establish a suitable regulatory framework for banks to fulfil their duty as public service providers – in Venezuela banks are considered public service providers – thereby allowing them to participate in the country’s economic development.

There is a generation already entering companies that has different values, a different way of seeing life, a different education… So we have to change, because the people working for us are already different.

As part of PwC's 17th Annual Global CEO Survey, we spoke with Raul Baltar Estevez, CEO of Banco Exterior. In this short video, Raul speaks of his optimism for Banco Exterior's future, the need for leaders to take a long-term view as they plan ahead, changes in the structure of the banking industry and their impact on consumer behaviour, and the importance of stakeholder engagement.

Banco Exterior, part of the IF Group, is a major private financial institution in Venezuela. Raul Baltar Estevez has been CEO of Banco Exterior since February 2008. From 2001 to 2007 he served as President and Chief Financial Officer of Banco Interamericano de Finanzas (Peru), also part of the IF Group. In addition, he has been the Director of the Banking Association of Venezuela since 2008. Prior to that he held a variety of positions in Banco Zaragozano and began his career as a consultant with Arthur Andersen (Spain), specialising in audits for the financial sector.

Mr. Estevez graduated in Economics and Business Administration from the Autonomous University of Madrid in 1987.

These interviews contain the opinions and views of the CEOs interviewed, and do not necessarily represent the opinions and views of PwC.