ANNUAL REPORT 2010

Executive Committee
Mercantil has an Executive Committee comprising a President and Executive President plus ten
senior managers from the organization’s Business and Support areas, which guarantees the
timely implementation of Mercantil’s decisions and strategies.
The Committee meets once a week and holds extraordinary meetings as required. It is responsible
for evaluating options and formulating recommendations on policy matters, objectives, strategies
and organization and submitting them to the Board of Directors for consideration, as well as
assisting and guiding Management in its efforts to implement the policies adopted. It is also
responsible for evaluating the outcome of their implementation.
Chairman of the Board of Directors
The Chairman of the Board of Directors is the President of the Company. He, or she, is responsible
for steering the Company’s activities and its business, chairing Shareholders meetings, Board
meetings and meetings of the Executive Committee, and providing them with assistance and
guidance on setting policies, goals and strategies to be followed and on important decisions in
accordance with the executive powers granted. He, or she, is also responsible for exercising the
functions assigned by the Board of Directors and for representing the Company before political
and administrative authorities and other public and private entities.
The President stands in for the Executive President during temporary absences, exercising the
same powers and attributions.
The Audit Unit and the Secretariat, which report directly to the Board of Directors, report to the
President on administrative matters. The Corporate Compliance Unit reports directly to the
President.
Executive President
The Executive President is responsible for the executive management and coordination of the
company; submitting to the consideration of the President, the Board of Directors and the
Executive Committee any major policies, objectives, strategies and decisions and reporting to
them periodically on the company's financial condition and results of operations. Other
responsibilities include designing, establishing and developing the Company’s organizational
structure and appointing and removing general managers, consultants and advisers as necessary.
The Executive President stands in for the President during temporary absences, exercising the
same powers and attributions.
The following Global Business and Support Units report to the Executive President: Commercial
and Personal Banking, Corporate and Investment Banking, Private Banking and Wealth
Management, Finance, Insurance and New Business, International Operations, Operations and
Technology, Risk Management, Legal Affairs, Strategic Planning, and Human Resources and
Corporate Communications. The Executive President is also responsible for the executive
coordination of all Mercantil’s subsidiaries.
Mercantil Servicios Financieros
95