Patricio Remon
EQUIFAXAbout Patricio Remon
Patricio Remon is President of Equifax International, leading a portfolio generating over $1 billion in annual revenues across 23 countries; he joined Equifax in 2006 and was appointed President of International in March 2025 after most recently serving as President of Equifax Europe . His background includes general management and sales leadership roles at Brio Software (LATAM) and MicroStrategy Argentina, and he serves on boards of ASNEF-Equifax and ACCIS; he holds a degree from Universidad del Salvador (Buenos Aires) . International delivered strong growth under Equifax’s cloud transformation: FY2024 International revenue was $1.354B (+19% constant currency), Q4 2024 revenue $348.8M (11% local currency), and Q1 2025 revenue $323.5M (+7% local currency), with adjusted EBITDA margins of 32.5% in Q4 2024 and 24.1% in Q1 2025 .
Segment performance (International)
| Metric | FY 2024 | Q4 2024 | Q1 2025 |
|---|---|---|---|
| International Revenue ($USD Millions) | $1,354.3 | $348.8 | $323.5 |
| International Local Currency Growth (%) | 19% | 11% | 7% |
| International Adjusted EBITDA Margin (%) | 27.6% (FY) | 32.5% | 24.1% |
Past Roles
| Organization | Role | Years | Strategic impact |
|---|---|---|---|
| Equifax Europe | President | Pre-2025 | Led European operations; Spain consumer credit exchange migrated to the Cloud in Q1 2025, advancing cloud-native delivery . |
| Equifax UK, Ireland, Iberia, Peru, Ecuador | Country leadership roles | Various (since 2006) | Oversaw multi-country operations and growth initiatives across Europe and LATAM . |
| Brio Software (LATAM) | General Manager | Pre-2006 | Built LATAM business unit and go-to-market capability . |
| MicroStrategy Argentina | Sales management | Pre-2006 | Led enterprise analytics sales; expanded data products footprint . |
External Roles
| Organization | Role | Years | Strategic impact |
|---|---|---|---|
| ASNEF-Equifax | Board member | Current | Supports Spanish credit data ecosystem collaboration and standards . |
| ACCIS (European credit information association) | Board member | Current | Advances European credit information best practices and industry advocacy . |
Fixed Compensation
| Component | Value | Notes |
|---|---|---|
| Base salary | Not disclosed | Remon is not listed among 2024 Named Executive Officers (NEOs), and his specific compensation was not disclosed in the proxy . |
| Target bonus % | Not disclosed | Company program uses AIP tied to financial goals and individual strategic goals, but individual targets for Remon were not disclosed . |
| Actual bonus (most recent year) | Not disclosed | Not disclosed; proxy only provides payouts and targets for NEOs . |
Performance Compensation
Equifax’s executive incentive architecture emphasizes at-risk pay linked to operational and market outcomes, which applies to senior executives including business unit leaders.
- Annual Incentive Plan (AIP) structure: Metrics include Corporate Operating Revenue and Corporate Adjusted EPS in constant FX, plus individual strategic goals aligned to innovation, cloud leverage, data assets, AI, customer focus, bolt-on M&A, security, and One Equifax culture .
- Long-Term Incentive (LTI) components:
- TSR performance shares vs. S&P 500 over 3 years; if absolute three-year TSR is negative, payout capped at 100% .
- Adjusted EBITDA performance shares earn over 3 years; any year below threshold pays $0 for that year’s tranche .
- RSUs cliff vest at 3 years; performance shares subject to a 12-month post-vesting holding period .
- Options: market-priced for NEOs (premium-priced for CEO); RSUs and PSUs are predominant for at-risk pay .
Company incentive design (applicable to senior executives)
| Incentive type | Metric | Weighting/conditions | Vesting/holding |
|---|---|---|---|
| AIP (annual cash) | Corporate Operating Revenue; Corporate Adjusted EPS; individual strategic goals | Design balances enterprise financials and strategic goals; BU leaders may have business unit-level goals per role context . | Annual payout based on performance . |
| PSUs (3-yr TSR) | Relative TSR vs. S&P 500 | Negative absolute TSR caps payout at 100% . | Vests at 3 years; 12-month holding post-vest . |
| PSUs (3-yr Adjusted EBITDA) | Adjusted EBITDA | Year below threshold earns $0 for that tranche . | Vests at 3 years; 12-month holding post-vest . |
| RSUs | Time-based | Alignment/retention focus . | Cliff vests at 3 years . |
Equity Ownership & Alignment
| Policy/metric | Requirement | Status/notes |
|---|---|---|
| Executive stock ownership guideline | CEO: 6x salary; other senior executives: 3x salary | Applies to senior executives; supports alignment with shareholders . |
| Anti-hedging and anti-pledging | Prohibited for directors, officers, and employees | Reduces alignment risk; hedging/pledging are red flags avoided by policy . |
| Trading restrictions | Senior executives cannot trade outside approved Rule 10b5‑1 plans | Enhances governance, mitigates ad hoc insider selling pressure . |
| Post-vesting holding | Performance shares must be held for 12 months post-vest | Further aligns incentives with long-term value . |
| Beneficial ownership, pledged shares | Not disclosed for Remon | Individual ownership/pledging disclosures for Remon are not provided in the proxy . |
Employment Terms
| Term | Detail |
|---|---|
| Equifax tenure | Joined 2006 . |
| Current role start date | Appointed President, International in March 2025 . |
| Contract term/auto-renewal | Not disclosed. |
| Severance / change-in-control | Company policy provides double-trigger change-in-control cash severance and equity vesting features for executives; no tax gross-ups other than for relocation or foreign tax expenses . |
| Clawback | Policy includes financial and reputational harm standard, including supervisory capacity . |
| Non-compete / non-solicit / garden leave | Not disclosed. |
Performance & Track Record
- International growth: FY2024 revenue $1.354B (+19% constant currency); Q4 2024 +11% local currency; Q1 2025 +7% local currency—driven by Europe and Latin America—and cloud migrations including Spain’s consumer credit exchange completed in Q1 2025 .
- Enterprise execution context: Equifax’s broader EFX Cloud transformation nearing completion with ~85% of revenue in the Cloud by end-2024, underpinning product innovation (12% Vitality Index in 2024) and margin improvements—key levers for International under Remon’s remit .
- LTI outcomes (program efficacy): 2022-granted TSR and Adjusted EBITDA performance shares vested in 2025 at 68.6% and 61.7% of target, illustrating pay-for-performance sensitivity to macro end-market headwinds .
Investment Implications
- Incentive alignment: Heavy use of PSUs tied to TSR and Adjusted EBITDA, three-year performance periods, and 12-month holding periods should limit short-termism and align Remon’s incentives with sustained revenue growth and margin expansion across International markets .
- Selling pressure risk: Mandatory Rule 10b5‑1 trading and post-vest holding requirements reduce opportunistic insider sales; anti-hedging/pledging policies further mitigate alignment risks and potential collateral pressure on EFX shares .
- Skin-in-the-game: Executive ownership guidelines (3x salary for senior executives) drive equity alignment; monitor future disclosures to assess Remon’s compliance timeline and actual holdings once available .
- Execution risk: International margins are inherently variable across geographies; recent adjusted EBITDA margin ranged from 32.5% (Q4 2024) to 24.1% (Q1 2025), requiring disciplined pricing, product vitality, and cloud efficiencies under Remon’s leadership .
- Enterprise capital returns: Equifax’s share repurchase authorization ($3B) and dividend increase (to $0.50 per share) reflect confidence in free cash flow; International performance under Remon will be a contributor to sustaining FCF conversion toward the 95% LT goal .