Sylvia M. López-Cartagena, an 18-year veteran at Banco Popular, has taken over the helm of its Popular Auto subsidiary, becoming the first woman to head the car loan operation since its establishment in 1990.
The official appointment was made during a gathering of auto dealership and automotive industry executives Wednesday, when she shared strategic goals for 2013. Among her objectives are increasing market share, including new “Floor Plan” acquisitions and expanding its commercial portfolio, especially fleets.
The company also expects to capitalize on Popular’s client portfolio to increase referrals to dealers, she said.
Popular Auto will also continue to strengthen service areas, looking to maintain a competitive edge in terms of interest rates and terms and achieve greater presence of sales and credit staff at dealerships, supported by an aggressive customer retention program, she said.
“Since joining Popular Auto I have felt great satisfaction and admiration for the team of people who work with such enthusiasm and passion in their field. The auto industry certainly has the backing and respect of my team at Popular Auto,” said Lopez-Cartagena, who joined Banco Popular in 1994.
During her tenure, López-Cartagena has held sales and regional management positions, which she said prepared her to gain “vast knowledge of how the financial world works in general.”
Popular Auto offers services ranging from loans and leasing of cars and fleets, to daily rentals. It also provides funding for boats, planes, helicopters, motorcycles, trucks and equipment.