Ricardo Chamorro joined PenFed Credit Union in 2014 and leads PenFed’s consumer banking and corporate strategy. PenFed is the second largest federal credit union in the country with over $35 billion in assets and 2.9 million members.
Mr. Chamorro is responsible for consumer banking products and services, which include retail deposits, payments, and consumer loans. He also oversees PenFed’s marketing and consumer banking technology teams, both focused on improving PenFed’s “go to market” strategy and ongoing digital transformation efforts.
He is responsible for assisting PenFed’s CEO with understanding the competitive landscape to develop, communicate, execute, and sustain strategic initiatives. Ricardo works closely with the rest of the PenFed executive team to develop long-range strategic plans and objectives through the identification of strategic issues and opportunities that could influence business growth and profitability.
Mr. Chamorro has nearly 20 years of experience in financial services. Prior to joining PenFed, he was a managing director for Dollar Financial Group in Madrid, Spain, and London, U.K. where he built and acquired over 60 growing retail locations across Europe focused on secured lending, unsecured single and multi-payment lending, money movement, retail sales (retail and online), and other ancillary products.
Mr. Chamorro also has served in roles related to mergers, acquisitions and strategy, as well as consumer products and retail with UBS Investment Bank and Lazard Investment Bank in New York. He has been responsible for assessing and executing strategic and financial opportunities for clients, including leveraged buyouts, divestitures, acquisitions, leverage recapitalizations, and other debt and equity strategies.
Mr. Chamorro spent five years in active duty as a Military Intelligence Officer in the U.S. Army. He is the recipient of the Bronze Star Medal. He graduated from the US Military Academy at West Point and has an MBA in finance and strategy from Harvard Business School.